[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Chris Anderson: You were something of\Na mathematical phenom.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You had already taught\Nat Harvard and MIT at a young age.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And then the NSA came calling.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,What was that about?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Jim Simons: Well the NSA --\Nthat's the National Security Agency --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,they didn't exactly come calling.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They had an operation at Princeton\Nwhere they hired mathematicians
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to attack secret codes\Nand stuff like that.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I knew that existed.\NAnd they had a very good policy
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And they had a very good policy\Nbecause you could do half your time
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,at your own mathematics
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and at least half your time\Nworking on their stuff.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And they paid a lot.\NSo that was an irresistible pull.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So, I went there.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: So you were a code-cracker.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: I was.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: Until you got fired.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: Well, I did get fired. Yes.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: How come?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: Well, how come?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I got fired because,\Nwell the Vietnam War was on,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and the boss of bosses in my organization\Nwas a big fan of the war
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and wrote a New York Times article,\Na magazine section cover story,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,about how we're going\Nto win in Vietnam and so on.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I didn't like that war,\NI thought it was stupid
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and I wrote a letter to the Times,\Nwhich they published, saying
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,not everyone who works for Maxwell Taylor,\Nif anyone remembers that name,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,agrees with his views.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I gave my own views.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: Oh, OK. I can see that would --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: Which were different from General Taylor's.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But in the end nobody said anything.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But then, I was 29 years old at this time\Nand some kid came around
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and said he was a stringer \Nfrom Newsweek magazine
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and he wanted to interview me\Nand ask what I was doing about my views.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I told him, I said, \N"I'm doing mostly mathematics now,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and when the war is over\Nthen I'll do mostly their stuff."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Then I did the only \Nintelligent thing I'd done that day --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I told my local boss\Nthat I gave that interview.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And he said, "What'd you say?"
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I told him what I said.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And then he said, "I've got to call Taylor."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,He calls Taylor; that took 10 minutes.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I was fired five minutes after that.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But it wasn't bad.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: It wasn't bad, because\Nyou went on to Stony Brook
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and stepped up your mathematical career.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You started working\Nwith this man here. Who is this?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: Oh, [Shiing-Shen] Chern.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Chern was one of the great \Nmathematicians of the century.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I had known him when\NI was a graduate student at Berkeley.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I had some ideas,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and I brought them to him\Nand he liked them.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Together, we did this work \Nwhich you can easily see up there.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,There it is.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: It led to you publishing\Na famous paper together.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Can you explain at all what that work was?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: No.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: I mean, I could \Nexplain it to somebody.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: How about explaining this?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: But not many.\NNot many people.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: I think you told me\Nit had something to do with spheres,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,so let's start here.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: Well, it did. But I'll say about that work --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it did have something to do with that,\Nbut before we get to that --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that work was good mathematics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I was very happy with it; so was Chern.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It even started a little subfield\Nthat's now flourishing.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But, more interestingly,\Nit happened to apply to physics,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,something we knew nothing about --\Nat least I knew nothing about physics,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and I don't think Chern\Nknew a heck of a lot.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And about 10 years\Nafter the paper came out,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,a guy named Ed Witten in Princeton\Nstarted applying it to string theory
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and people in Russia started applying it\Nto what's called "condensed matter."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Today, those things in there\Ncalled Chern-Simons invariants
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,have spread through a lot of physics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And it was amazing.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We didn't know any physics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It never occurred to me\Nthat it would be applied to physics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But that's the thing about mathematics --\Nyou never know where it's going to go.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: This is so incredible.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So, we've been talking about\Nhow evolution shapes human minds
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that may or may not perceive the truth.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Somehow, you come up\Nwith a mathematical theory,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,not knowing any physics,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,discover two decades later\Nthat it's being applied
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to profoundly describe\Nhe actual physical world.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,How can that happen?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: God knows.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But there's a famous physicist\Nnamed [Eugene] Wigner,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and he wrote an essay on the\Nunreasonable effectiveness of mathematics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Somehow, this mathematics,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,which is rooted in the real world\Nin some sense -- we learn to count,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,measure, everyone would do that --\Nand then it flourishes on its own.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But so often it comes back\Nto save the day.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,General relativity is an example.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,[Hermann] Minkowski had this geometry,\Nand Einstein realized,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,"Hey, it's the very thing \Nin which I can cast General Relativity."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So, you never know. It is a mystery.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It is a mystery.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: So, here's a mathematical\Npiece of ingenuity.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Tell us about this.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: Well, that's a ball -- it's a sphere,\Nand it has a lattice around it --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you know, those squares.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,What I'm going to show here was \Noriginally observed by [Leonhard] Euler,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the great mathematician, in the 1700's.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And it gradually grew to be \Na very important field in mathematics:
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,algebraic topology, geometry.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,That paper up there had its roots in this.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So, here's this thing:
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it has eight vertices,\N12 edges, six faces.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And if you look at the difference --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,vertices minus edges plus faces --\Nyou get two.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,OK, well, two? That's a good number.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Here's a different way of doing it --\Nthese are triangles covering --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,this has 12 vertices and 30 edges\Nand 20 faces, 20 tiles.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And vertices minus edges\Nplus faces still equals two.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And in fact you could\Ndo this any which way,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,cover this thing with all kinds\Nof polygons and triangles
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and mix them up.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And you take vertices minus edges\Nplus faces -- you'll get two.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Here's a different shape.\NThis is a torus, the surface of a donut,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,16 vertices covered by these rectangles,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,32 edges, 16 faces,\Nvertices minus edges comes out 0.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It'll always come out 0.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Every time you cover a torus\Nwith squares or triangles
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or anything like that,\Nyou're going to get 0.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So, this is called\Nthe Euler characteristic.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And it's what's called\Na topological invariant.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It's pretty amazing,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,no matter how you do it\Nyou'll always get the same answer.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So that was the first sort of thrust, \Nfrom the mid-1700s,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,into a subject which is now\Ncalled algebraic topology.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: And your own work\Ntook an idea like this
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and moved it into\Nhigher-dimensional theory,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,higher-dimensional objects,\Nand found new invariants?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: Yes. Well, there were already \Nhigher-dimensional invariants:
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Pontryagin classes --\Nactually, there were Chern classes.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,There were a bunch\Nof these types of invariants.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I was struggling to work on one of them\Nand model it sort of combinatorially
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,instead of the way it was typically done,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and that led to this work\Nand we uncovered some new things.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But if it wasn't for Mr. Euler --\Nwho wrote almost 70 volumes of mathematics
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and had 13 children
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,who he apparently would dandle on his knee\Nas he was writing --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,if it wasn't for Mr. Euler, there wouldn't\Nperhaps be these invariants.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: OK, so that's at least given us\Na flavor of that amazing mind in there.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Let's talk about Renaissance.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Because you took that amazing mind\Nand having been a code-cracker at the NSA,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you started to become a code-cracker\Nin the financial industry.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I think you probably didn't buy \Nefficient market theory.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Somehow you found a way of creating\Nastonishing returns over two decades.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The way it's been explained to me,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,what's remarkable about what you did\Nwasn't just the size of the returns,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it's that you took them\Nwith surprisingly low volatility and risk
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,compared with other hedge funds.\NSo how on earth did you do this, Jim?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: I did it by assembling\Na wonderful group of people.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,When I started doing trading, I had \Ngotten a little tired of mathematics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I was in my late 30s. \NI had a little money.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I started trading and it went very well.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I made quite a lot of money\Nwith pure luck.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I mean, I think it was pure luck.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It certainly wasn't mathematical modeling.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But in looking at the data,\Nafter a while I realized:
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it looks like there's some structure here.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I hired a few mathematicians,\Nand we started making some models --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,just the kind of thing we did back \Nat IDA [Institute for Defense Analyses].
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You design an algorithm,\Nyou test it out on a computer.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Does it work? Doesn't it work? And so on.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: Can we take a look at this?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Because here's a typical graph\Nof some commodity.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I look at that, and I say, \N"That's just a random, up-and-down walk --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,maybe a slight upward trend \Nover that whole period of time."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,How on earth could you trade,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,looking at that and see something\Nthat wasn't just random?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,JS: In the old days -- this is \Nkind of a graph from the old days,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,commodities or currencies\Nhad a tendency to trend.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Not necessarily the very light trend\Nyou see here, but trending in periods.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And if you decided, "OK, I'm going \Nto predict today, by the average move
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in the past 20 days -- there's 20 days --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,maybe that would be a good prediction,\Nand I'd make some money.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And in fact, years ago\Nsuch a system would work --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,not beautifully, but it would work.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You'd make money, \Nyou'd lose money,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you'd make money.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But this is a year's worth of days,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and you'd make a little money \Nduring that period.