By the way, the story goes that back in 1960, one of the big Wall Street firms wanted to know whether, since the depression, it was better to invest in big companies or little companies. They asked all the universities in and around NYC, who all told them that nobody knew. One of the executives was a U of C grad and asked them one day when he was in Chicago. They said that they had no idea but that if they gave them money they’d find out. When they published the study, everyone started calling and asking for access to the data, and thus the entire field of academic financial research was born :)
The study was done on a univac 2 and it blew people’s minds that such quantities of data could be analyzed in one go.
By the way, the story goes that back in 1960, one of the big Wall Street firms wanted to know whether, since the depression, it was better to invest in big companies or little companies. They asked all the universities in and around NYC, who all told them that nobody knew. One of the executives was a U of C grad and asked them one day when he was in Chicago. They said that they had no idea but that if they gave them money they’d find out. When they published the study, everyone started calling and asking for access to the data, and thus the entire field of academic financial research was born :)
The study was done on a univac 2 and it blew people’s minds that such quantities of data could be analyzed in one go.