Why Michael Jordaan-backed algorithmic investment company NMRQL left South Africa

[Jan]

Michael Jordaan-backed AI-powered investment company closes shop in South Africa

AI-driven investment fund manager NMRQL (pronounced “numerical”) has closed its South African offices and restarted as AI Asset Management.

Based on the company’s CIPC records, it was shut down sometime in April or May 2023. The company registration was transferred to Methodical Capital Management.

 

[nicroets]

To be successful in this space you need to give the best brains carte blanche and a large equity stake.

Jim Simons (mathematician) - Wikipedia

en.m.wikipedia.org

 

[supersunbird]

This AI used for trading rather than long term investing? I guess AI isn't needed for long term investing.

 

[rvZA]

The JSE, as predicted, died. Any company listing there will only trade sideways in future. No more liquidity.

 

[nicroets]

This AI used for trading rather than long term investing? I guess AI isn't needed for long term investing.

You don't need long term investing to be successful in this game.

But you need to be focused on statistics and ignore the AI hype:

 

[nicroets]

The JSE, as predicted, died. Any company listing there will only trade sideways in future. No more liquidity.

When the public says stuff like that, you know the market has reached the bottom.

Then the directors do management buyouts and the shares spike.

 

[r00igev@@r]

I predict Michael will be investing in yo-yos next! Its going to be the next big thing. Trust me.

 

[LCBXX]

My old washing machine had a logo that said it has fuzzy logic.

The new model I replaced it with has a logo, at the same spot, saying it has AI.

 

[Sapphiron]

Who would have guessed that AI is unable to find useful patterns in an irrational system with little correlation to real world performance.

 

[MrGray]

Sounds like they were trying to replicate RenTech (https://en.wikipedia.org/wiki/Renaissance_Technologies) and failed...

 

[MrGray]

Who would have guessed that AI is unable to find useful patterns in an irrational system with little correlation to real world performance.

Renaissance Tech have had the highest sustained returns in recorded history going back for decades, doing exactly that. The only difference is that they only hire the best maths PhDs available.

Renaissance Technologies | Acquired Podcast

The complete podcast (and transcript!) of Renaissance Technologies history and business strategy.

www.acquired.fm

 

[mpdjhb]

Who would have guessed that AI is unable to find useful patterns in an irrational system with little correlation to real world performance.

Not sure if that is said tongue in cheek - but there are many chaotic systems that can be modelled - with the right data.

 

[Sapphiron]

Not sure if that is said tongue in cheek - but there are many chaotic systems that can be modelled - with the right data.

The problem is that the stock market is not chaotic, but actively manipulated.

 

[backstreetboy]

Who?

 

[Sapphiron]

Who?

Aparrantly he invented the banking app or something. /s

 

[Grubscrew]

Who?

Basketball player in the early 90s

 

[Sapphiron]

Renaissance Tech have had the highest sustained returns in recorded history going back for decades, doing exactly that. The only difference is that they only hire the best maths PhDs available.

Renaissance Technologies | Acquired Podcast

The complete podcast (and transcript!) of Renaissance Technologies history and business strategy.

www.acquired.fm

Math > AI

 

[Sapphiron]

Basketball player in the early 90s

Ah, I think he played with De Bron James

 

[Grubscrew]

Ah, I think he played with De Bron James

The hey day of the bank and ball crowd.

 

[MrGray]

Math > AI

AI = Math