- In the post where I tried to explain what happened yesterday by writing 0100101010111010010101010, I meant that the computer programs took down the market. Computers basic language is binary which is just a series of zeroes and ones. That in turn gets interpreted to what you see on your screen.
- The reason I suggested Cliff Asness should stay home is that he was a major proponent of adding momentum factors to quant programs. He also runs one of the largest quant funds in the World and does not like to keep a low profile.
I have been asked to clarify some of my posts from yesterday.