![]() Nobody outside the bank knew it, but for a long time Muller was Morgan Stanley's supersecret weapon, making big contributions to its earnings each year, hidden in the firm's income statement under "principal transactions." "When people buy or sell in a desperate or hurried fashion, it tends to be helpful to us," says Muller, who is otherwise tight-lipped about what has gone right this year. His research chief has just left his office after telling Muller about a promising finding that could lead to the improvement of one of PDT's main models. He is wearing a gray sweatshirt and jeans and has a Zen-like calm. Muller is sitting in his Manhattan office. stock market has given back all of its gains, and hedge fund managers around the globe are wringing their hands in anticipation of sending out another batch of disappointing investor letters. ![]() "To take money out of the market with as little risk as possible and build a place people who are smart are drawn to." Muller's niche formula has also let him take plenty of money out of the market personally: Forbes estimates that in the last three years alone he's made $200 million before taxes, including gains on his own capital. In fact, we have an entire virtual event devoted to the topic: Applied AI Live featuring AI masterminds from Credit Suisse, Northrup Grumman, Schlumberger and more."Our goal is to be the best quantitative investment firm on the planet, but not in terms of number of assets, in terms of quality of the products," says Muller in his first interview since opening his new firm. While using AI to enhance decision making and deliver real-world, tangible value can be incredibly challenging, organizations are making it happen. It can only make the pursuit of such things more efficient and error-proof. However, just as AI won’t “crack the stock market,” it also won’t cure cancer or invent the next blockbuster product.
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