How can wealth of knowledge be translated into material wealth?

Tonight, after a happy swim at the canal swimming pool, we ate our dinner listening to Jim Simons of Renaissance Technologies via TED talk.

Jim started trading in his late 30s because he had a little money.

He highlighted that the real thing was to gather a tremendous amount of data. Big data!

What is big today will be small tomorrow, we live in an evolving world.

Data is important to build models to make predictions. Predictions that not only bring money but also fun as it involves exciting mathematics and science.

As of 201503, Renaissance gather terabytes of data daily. Apply machine learning on the data. Look for anomalies. When the efficient market hypothesis is not correct, it is the opportuniy time.

20150908

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