renaissance technologies is a failing trading company that sits on perhaps a few billion dollars of capital.
they claim to be worth $21 billion, but i find that to be questionable.
in listening to their videos, it is obvious to me that they dont really have much in the strategy department.
when they speak of a “mean reversion strategy” in the video, this can be accomplished in different ways.
mean reversion can be done with a moving average, which i hope is not what they are doing.
when they speak of pattern analysis, i am dead sure that they are struggling and that they have no strategy.
i have said it a hundred times that the most important thing that a trading systems engineer can do is to calculate the TARGET which is what they are calling the “MEAN” when they say mean reversion.
how do they calculate the mean?(TARGET PRICE)
^^this is the sixty four million dollar question and always has been.