James Simons: Mathematics and Common Sense
James Simons reminds us all that complication in trading can cause problems:
“Years ago, a colleague came up with an extremely complicated model. Initially, it worked well, but then it began to falter. I said, “Can we understand more about this model? It’s so complicated.” He said, “Oh no, you can’t understand it. I’ve added this and that and put it all together and I’ve maximized here and there and…who knows what it is?” I said, “That is not satisfactory. I know it
