Prediction Company was founded in Santa Fe, New Mexico, USA, in March 1991 by J. Doyne Farmer,

Norman Packard Norman Harry Packard (born 1954 in Billings, Montana) is a chaos theory physicist and one of the founders of the Prediction Company and ProtoLife. He is an alumnus of Reed College and the University of California, Santa Cruz. Packard is known f ...

, and James McGill. The company used

forecasting Forecasting is the process of making predictions based on past and present data. Later these can be compared (resolved) against what happens. For example, a company might estimate their revenue in the next year, then compare it against the actual ...

techniques to build black-box trading systems for

financial market A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial market ...

s, mainly employing

statistical learning theory Statistical learning theory is a framework for machine learning drawing from the fields of statistics and functional analysis. Statistical learning theory deals with the statistical inference problem of finding a predictive function based on dat ...

. In September 1992, Prediction Company entered into an exclusive contract with O'Connor and Associates, a Chicago derivatives trading house, to provide investment advice and technology. Soon after O'Connor merged with

Swiss Bank Corporation Swiss Bank Corporation was a Swiss investment bank and financial services company located in Switzerland. Prior to its merger, the bank was the third largest in Switzerland with over CHF300 billion of assets and CHF11.7 billion of equ ...

, which later merged with

Union Bank of Switzerland Union Bank of Switzerland (UBS) was a Swiss investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998, to become ...

(UBS). Prediction Company's contract was renewed multiple times and in 2005 UBS purchased Prediction Company outright. After being a wholly owned subsidiary of UBS, Prediction Company was acquired in 2013 by an affiliate of Millennium Partners, L.P. Prediction Company was shut down on September 1, 2018. In twenty-six years of operation, Prediction Company had only one losing year, 2007.

See also

Notes

References

Further reading

External links