儘管翻譯有點爛，但是英文部分還是有些參考意義。—-本人。

量化投資大師採訪摘錄-詹姆斯·西蒙斯 James Simons

2017-05-21 量化與對衝

編者按：

以下阿量在網路上找到的有關詹姆斯·西蒙斯接受媒體採訪時的一些回答，翻譯來源於網路，據“ 福布斯”雜誌統計，截至2017年2月，西蒙斯的淨值為180億美元。這使得他在福布斯400富豪榜上排名第24。

“Models can lower your risk…. It reduces the daily aggravation.” With old-fashioned stock picking: “One day you feel like a hero. The next day you feel like a goat. Either way, most of the time it’s just luck.” “We don’t override the models.”

模型可以降低你的風險……它會降低每日的惡化。而老式的選股策略:”有一天你感覺像個英雄。第二天你感覺像一隻山羊。換種方式說，大多數情況下它是隻是運氣。”我們並不優於模型”。

“Certain price patterns are nonrandom and will lead to a predictive effect.”

某些價格形態並非隨機，而會有對預測的影響。

“Efficient market theory is correct in that there are no gross inefficiencies, but we look at anomalies that may be small in size and brief in time.”

有效市場理論在不嚴重低效的市場中是正確的，但我們尋找的是短期、微小的異常現象。

“Great people. Great infrastructure.Open environment. Get everyone compensated roughly based on the overall performance… That made a lot of money.”

牛逼的人；牛逼的設施；開放的環境。讓每個人基於整體表現獲得大致報酬…這能夠生產很多錢。

“Luck, is largely responsible for my reputation for genius. I don’t walk into the office in the morning and say, ‘Am I smart today?’ I walk in and wonder, ‘Am I lucky today?’”

很大程度上運氣是我有天才名譽的原因。在早上我不會走進辦公室說“今天我聰明嗎？”，而是說，“今天我幸運嗎？”

“We have three criteria. If it’s publicly traded, liquid and amenable to modeling, we trade it.”

我們有三個標準。如果它公開交易，有流動性並且服從模型，我們就交易它。

“We search through historical data looking for anomalous patterns that we would not expect to occur at random. Our scheme is to analyze data and markets to test for statistical significance and consistency over time. Once we find one, we test it for statistical significance and consistency over time. After we determine its validity, weask, ‘Does this correspond to some aspect of behavior that seems reasonable?’”

我們通過歷史資料搜尋不被認為是隨機變動的異常現象。我們的目的是要隨著時間變化分析資料和市場做統計學意義和一致性測試。一旦我們找到一個，我們會隨著時間推移測試它的一致性和統計學意義。我們確定它的有效性後，會問，“這符合某些方面似乎合理的行為嗎？

“Trend-following is not such a good model. It’s simply eroded.” Things change and being able to adjust is what made Mr. Simons so successful. “Statistic predictor signals erode over the next several years; it can be five years or 10 years. You have to keep coming up with new things because the market is against us. If you don’t keep getting better, you’re going to do worse.”

趨勢跟蹤不是一個好的模型。它只是被簡單地被沖刷了。”順應事物變化和能夠進行調整是讓西蒙斯先生如此成功的原因。”在未來五到十年統計預測訊號將削弱。你要不斷推出新的東西因為市場是對我們不利。如果你不保持越來越好，你只會更糟糕.

“We don’t start with models. We start with data. We don’t have any preconceived notions. We look for things that can be replicated thousands of times. A trouble with convergence trading is that you don’t have a time scale. You say that eventually things will come together.Well, when is eventually?”

我們不要從模型開始。我們要從資料開始。我們沒有任何先入為主的觀念。我們尋找那些可以重複數千次的東西。收斂性交易的問題是，你沒有時間尺度。你說最終都會收斂。好的，那何時是最終呢？

“Once in a while the phenomena we exploit are particularly present. We like a reasonable amount of volatility. In our business we want some action.” “Tumult is usually good for us. We don’t have credit lines of any significance. We don’t do a lot of leveraged-type financing.”

有時我們利用的現象是特殊存在的。我們喜歡合理的波動性。在我們的工作中我們希望一些行動。”波動通常對我們有好處。我們沒有任何意義的信貸額度。我們不做大量的槓桿型融資。

“How we do it isn’t any more mysterious than how a great fundamental investor does it. In some ways it is less mysterious because what we do can be programmed.”

我們如何做它不比其他大量的基本面投資者神祕。某種程度上不那麼神祕正是因為我們做什麼都可以進行程式設計。

“Academics has its charms, but it doesn’t have enough charms that I regret leaving that field.” “Be guided by beauty. Everything I’ve done has had an aesthetic component to me. Building acompany trading bonds, what’s aesthetic? … If you’re the first one to do it right, it’s a terrific feeling and a beautiful thing to do something right,like solving a math problem.”

學術界有著獨特的魅力，但它沒有足夠的魅力讓我後悔離開那領域。”遵循美。我所做的一切對我而言都是審美的組成部分。建立交易債券的公司，這是美？…如果你是第一個這樣做的，做正確的事情是一種很棒的感覺和美麗的東西，就像解決數學問題。

“We look for people who have demonstrated the ability to do first-class research. First and foremost, we look for people capable of doing good science, on the research side, or theyare excellent computer scientists in architecting good programs. We have veryhigh standards and it works. “

我們尋找那些有能力做一流研究的人。首先，我們尋找在有能力做好某方面研究的人，或者他們是在設計好程式方面的優秀計算機專家。我們有非常高的標準並讓它工作。

“It’s looking at a lot of data and really looking for what underlies that data. In that sense, it is kind of like astronomy. You look at a lot of data from up in the sky, you bring it down, and it’s quite dirty and you have to clean it to get rid of outliers or one thing or another. Then you hope you can analyze that data in a way that makes sense of whatever hypothesis or set of hypotheses you may have about what you are looking at. That’s a big piece of what we do. There we hire people who are experimental physicists or astronomers.”

尋找大量資料並真正明白形成那些資料的原因。在這個意義上，它就像天文學。你看著天空中的大量資料，你把它帶下來，它是相當髒的，所以你不得不去掉其他東西把它清理乾淨。然後你希望你可以分析該資料，使得無論何種假說或設什麼假設你可以明白你在看什麼。這就是我們所做的一大塊。這是我們僱用那些實驗物理學家或天文學家的人的原因。

“Brownian Motion is something that has a better chance of being applied. Brownian motion is a way of looking at data and ordering random activity, or activity that looks random. Models like that, and approaches like that are very useful. … We use very rigorous statistical approaches to determine what we think is underlying a phenomenonand really do explain that part of it. But it’s not like proving theorems. “

布朗運動是有更好機會被應用的東西。布朗運動是看資料和排序隨機活動或那些看起來是隨機活動的方法。這樣的模型和這樣的方法是非常有用的。…我們使用非常嚴謹的統計方法來確定我們所思考的潛在現象，並真正解釋它。但這不是證明定理。”

“But I like to ponder. And pondering things, just sort of thinking about it and thinking about it, turns out to be a pretty good approach.”

但我喜歡思考。思考的事情，只是反覆思考，被證明是一個很好的方法。

“As a trader, SIMONS tries to overcome fundamental laws, not discover them. In the case of quantitative finance, the law is the efficient markets hypothesis and the belief that markets should be difficult, but not impossible, to beat.”

作為交易者，西蒙斯嘗試克服基本規則，而不是發現它們。在定量金融，規則是有效市場假說和應該很難但不是不可能打敗的信念。

“Renaissance essentially attempts to predict the future movement of financial instruments, within a specific timeframe, using statistical models. The firm searches for something that might be producing anomalies in price movements that can be exploited. At Renaissancethey’re called “signals.” The firm builds trading models that fit the data.”

文藝復興基本上是用統計模型試圖預測指定時間框架內金融工具的未來走勢。該公司尋找那些有可利用機會的異常價格走勢。在文藝復興，它們被稱為”訊號”。”公司建立擬合數據的交易模式。

“Mathematics and science are two different notions, two different disciplines. By its nature, good mathematicsis quite intuitive. Experimental science doesn’t really work that way.Intuition is important. Making guesses is important. Thinking about the right experiments is important.”

數學和科學是兩個不同的學科，兩個不同的概念。從性質而言，好的數學是很直觀的。實踐科學真的不會這樣。直覺是重要的。猜測是重要的。思考正確的實踐是重要的。

“I want a guy who knows enough math so that he can use those tools effectively but has a curiosity about how things work and enough imagination and tenacity to dope it out.”

我想要一個有足夠數學知識並能有效地使用這些工具的傢伙，同時他需要有了解這些如何工作的好奇心和足夠想象力去推理。”

“Many of the anomalies we initially exploited are intact, though they have weakened some. What you need to do is pile them up. You need to build a system that is layered and layered.And with each new idea, you have to determine, Is this really new, or is this somehow embedded in what we&# 39;ve done already? So you use statistical tests to determine that, yes, a new discovery is really a new discovery. Okay, now how does it fit in? What’s the right weighting to put in? And finally you make an improvement. Then you layer in another one. And another one.”

“許多我們最初利用異常現象是完好無損，雖然他們被削弱了一些。你需要做的就是堆起來。你需要建立一個系統，是層狀和分層。和與每個新的想法，你必須確定，這是真正的新內容，或這已經以某種方式嵌入我們已經做了的？因此您使用統計檢驗來確定的是的一個新的發現真的是一個新的發現。好吧，現在它是如何嗎？正確的權重放是什麼？最後你有所改善。然後你在另一個層。和再另一層。

來源：量加頭條