Author: Frank Schneider
Date: 10:54:04 06/06/01
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On June 06, 2001 at 13:01:56, Graham Laight wrote: >Once upon a time, chess computers were expensive, and not especially good. >Gradually, they became cheaper and better. Now anyone (who already has a >computer) has the ability to sit at home and generate excellent chess moves very >cheaply. > >Right now, if you want to buy the stock selection program "Tradingsolutions", it >will cost you $1,000. Presumably, it will allow you to select stocks and time >your purchases to improve your chances of making money. > >In the fullness of time, one would expect the number of people using such >programs to increase, and therefore for stock market timing and selection in >general to improve. > >However - if most market participants become cleverer at stock selection, nobody >will ever buy a stock if it is significantly above its "true" (by consensus of >trading programs) price. Equally, people will be unwilling to sell below the >"true" price. In chess the current position is known to both players/programs. In the stockmarket different people will always have different estimations about the prospects of a company and that will influence the prices. > >The consequence of this will be that stock market graphs, which are currently >bouncy and full of life, will become a deathly dull flat line. No more >opportunities to make "a killing" for anyone. Maybe technical analysis will more and more become a self-fulfilling prophecy. Frank > >Right now, I believe that this, fantastic as it sounds, will actually happen. > >AI could have many strange, unexpected consequences! > >n.b. - website for AI trading - http://www.neural101.com > >-g
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