Prediction Company
Prediction Company was founded in Santa Fe, New Mexico, USA, in March 1991 by J. Doyne Farmer, Norman Packard, and James McGill. The company used forecasting techniques to build black-box trading systems for financial markets, mainly employing statistical learning theory. In September 1992, Prediction Company entered into an exclusive contract with O'Connor and Associates, a Chicago derivatives trading house, to provide investment advice and technology. Soon after O'Connor merged with Swiss Bank Corporation, which later merged with Union Bank of Switzerland (UBS). Prediction Company's contract was renewed multiple times and in 2005 UBS purchased Prediction Company outright. After being a wholly owned subsidiary of UBS, Prediction Company was acquired in 2013 by an affiliate of Millennium Partners, L.P.
Prediction Company was shut down on September 1, 2018. In twenty-six years of operation, Prediction Company had only one losing year, 2007.[1]
See also
Notes
References
- Bass, Thomas A. (1999). The Predictors. New York: Henry Holt. ISBN 0-8050-5756-0.
- Bielski, Vincent; Kishan, Saijel (2018). "Millennium Shuts Down Pioneering Quant Hedge Fund". Bloomberg.com. Bloomberg. Retrieved 31 May 2021.
Further reading
- Kelly, Kevin (1994). "Chapter 22: Prediction Machinery". Out of Control. Perseus Books. ISBN 978-0201483406. Retrieved 2015-03-31.
- Focardi, Sergio M. (1997). Modeling the Market: New Theories and Techniques. John Wiley & Sons. pp. 16–20, 75–81. ISBN 9781883249120.
- Bass, Thomas A. (April 26, 1999). "Black Box: What Happens when maverick physicists in New Mexico set out to predict the markets?" (PDF). The New Yorker. Retrieved 2015-03-31.
- Bass, Thomas A. (2000). The Predictors: How a Band of Maverick Physicists Used Chaos Theory to Trade Their Way to a Fortune on Wall Street. Holt Paperbacks. ISBN 0805057579.
- Weatherall, James Owen (2013). The Physics of Wall Street: A Brief History of Predicting the Unpredictable. Houghton Mifflin Harcourt. pp. 130–158. ISBN 9780547317274.