How This Hedge Fund Robot Outsmarted Its Human Master
- Simplex uses artificial intelligence to trade Japan futures
- AI investors are outperforming as global hedge funds struggle
Yoshinori Nomura.
Photographer: Takaaki Iwabu/BloombergThis article is for subscribers only.
Yoshinori Nomura felt like weeping. It was the morning of June 24, Brexit day, and markets were moving against him.
Well, not against him, exactly. It was the hedge fund manager’s self-learning computer program that had placed the bet, selling Japanese stock-index futures before a sizable market advance. Nomura had anticipated a rally, but decided not to interfere, and his fund was paying the price.