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Developing and Evaluating Trading Systems

Improved technology, more power. We would expect this to be good.

In fact, more power can enable us to do exactly the wrong thing.

This happens all of the time with the world’s most powerful computer, the human mind. A year ago we reviewed analysts who thought the market looked like a replay of the 1987 crash. This type of analysis crops up all of the time, often using old charts as evidence. With the power to search among thousands of choices, picking the time frame, and adjusting the scales, the human computer can "prove" nearly anything.
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