“The moment belief becomes action, prediction stops being neutral.” Imagine trying to predict where a crowd will go by asking each person what they plan to do. Some will answer honestly. Some will hedge. Some will change their mind...
In my latest conversation with Niels Kaastrup-Larsen on The Systematic Investor Series, we explored how markets actually build themselves, from a single trade to the fractal geometry of price. Every act in the market exerts impact. A trader buys,...
“Intelligence without boundaries is not intelligence at all. It is computation without consequence.” “It sees everything except itself.” Preface This essay continues the inquiry begun in “Reflexivity and the Limits of Artificial Intelligence.”In that earlier piece, we explored why...
“The market, like water, remembers every touch. Each impact shapes the next wave.” From Impact to Fractal: How Markets Build Themselves from the Bottom Up Every price move begins with a decision.A trader chooses to buy, sell, or do nothing....
A Companion to “The End of Prediction” “Artificial intelligence does not predict the market.It accelerates its evolution.” Beyond the Comfort of Certainty For decades, financial science has been built on the comforting promise of prediction. From econometric regressions to neural...
