What are the great successes of machine learning in finance?
Does Renaissance Technologies count as ML? I honestly don't know where the line between quantitative/algorithmic and ML is - I suspect it's blurry.
No inflows, old investors get paid with money from new retail investors and retail investors are left with a hot potato. A Ponzi scheme.
The kind of returns RenTech took, it would have to be a highly elaborate insider trading and why would a bunch of scientists want to waste their time on that ?
The only thing “wonky” about RenTech was Bob Mercer’s personal political views but despite that I would still consider Bob Mercer to be a very intelligent/scientific person.