The mathematician who cracked Wall Street | Jim Simons

2,728,196 views ・ 2015-09-25

TED


請雙擊下方英文字幕播放視頻。

譯者: Tess Yeh 審譯者: Muyun Zhou
00:12
Chris Anderson: You were something of a mathematical phenom.
0
12817
2834
(安德森) 你算是數學界的奇葩
00:15
You had already taught at Harvard and MIT at a young age.
1
15675
3064
很早便在哈佛和麻省理工教書
00:18
And then the NSA came calling.
2
18763
2190
之後NSA找上門
00:21
What was that about?
3
21464
1204
這段故事是?
00:23
Jim Simons: Well the NSA -- that's the National Security Agency --
4
23207
3923
(西蒙斯) 喔,NSA是美國國家安全局
00:27
they didn't exactly come calling.
5
27154
1969
並沒有實際找我
00:29
They had an operation at Princeton, where they hired mathematicians
6
29465
4474
它在普林斯頓有個機構 請了許多數學家
00:33
to attack secret codes and stuff like that.
7
33963
2942
來破解密碼之類的
00:37
And I knew that existed.
8
37294
1672
我知道這事
00:39
And they had a very good policy,
9
39315
2180
它們的規定挺不錯
00:41
because you could do half your time at your own mathematics,
10
41519
3850
你可以一半研究數學
00:45
and at least half your time working on their stuff.
11
45393
3484
只要一半做它們的事
00:49
And they paid a lot.
12
49559
1474
給薪很優渥
00:51
So that was an irresistible pull.
13
51057
3051
這點很難抗拒
00:54
So, I went there.
14
54132
1912
所以我就去了
00:56
CA: You were a code-cracker.
15
56068
1338
(安) 你曾是密碼破解員
00:57
JS: I was.
16
57430
1166
(西) 對,是的
00:58
CA: Until you got fired.
17
58620
1157
(安) 直到被解雇
00:59
JS: Well, I did get fired. Yes.
18
59801
1583
(西) 對,我被炒魷魚
01:01
CA: How come?
19
61408
1245
(安) 怎會這樣?
01:03
JS: Well, how come?
20
63280
1333
(西) 嗯,原因嘛
01:05
I got fired because, well, the Vietnam War was on,
21
65611
4956
被解雇因為...那時越戰爆發
01:10
and the boss of bosses in my organization was a big fan of the war
22
70591
5738
我單位的上司迷上越戰
01:16
and wrote a New York Times article, a magazine section cover story,
23
76353
4395
他替紐約時報寫了文章 成為封面故事
01:20
about how we would win in Vietnam.
24
80772
1770
談如何打贏越戰
01:22
And I didn't like that war, I thought it was stupid.
25
82566
3129
我不喜歡越戰,覺得很愚蠢
01:25
And I wrote a letter to the Times, which they published,
26
85719
2665
便寫信給《時代》雜誌,後來被登出來
01:28
saying not everyone who works for Maxwell Taylor,
27
88408
4014
說並非麥克斯維爾·泰勒所有屬下
01:32
if anyone remembers that name, agrees with his views.
28
92446
4686
都贊同他,如果還有人記得這個名字
01:37
And I gave my own views ...
29
97553
1658
我提出我的看法
01:39
CA: Oh, OK. I can see that would --
30
99235
2164
(安) OK,我瞭解這會...
01:41
JS: ... which were different from General Taylor's.
31
101423
2555
(西) 與泰勒將軍不同
01:44
But in the end, nobody said anything.
32
104002
1906
但最後也沒人說什麼
01:45
But then, I was 29 years old at this time, and some kid came around
33
105932
3701
那年我29歲,有個小子來找我
01:49
and said he was a stringer from Newsweek magazine
34
109657
3088
自稱是《新聞週刊》特約記者
01:52
and he wanted to interview me and ask what I was doing about my views.
35
112769
5367
想問我怎麼實踐自己的看法
01:58
And I told him, "I'm doing mostly mathematics now,
36
118160
3899
我說:「現在我幾乎都弄數學
02:02
and when the war is over, then I'll do mostly their stuff."
37
122083
3373
等戰爭結束,才會做他們的事」
02:06
Then I did the only intelligent thing I'd done that day --
38
126123
2825
於是我便做了那天最明智的事
02:08
I told my local boss that I gave that interview.
39
128972
4157
我把訪談一事告訴主管
02:13
And he said, "What'd you say?"
40
133153
1459
他問我:「你說了什麼?」
02:14
And I told him what I said.
41
134636
1466
我就照實說
02:16
And then he said, "I've got to call Taylor."
42
136126
2315
接著他說:「我要打電話給泰勒」
02:18
He called Taylor; that took 10 minutes.
43
138465
2377
他打給泰勒,講了10分鐘
02:20
I was fired five minutes after that.
44
140866
2262
再5分鐘我就被解雇了
02:23
CA: OK.
45
143590
1222
(安) 這樣啊
02:24
JS: But it wasn't bad.
46
144836
1151
(西) 不過這並非壞事
02:26
CA: It wasn't bad, because you went on to Stony Brook
47
146011
2493
(安) 這不糟,因為你去了 紐約州立大學石溪分校
02:28
and stepped up your mathematical career.
48
148528
3133
數學生涯更上層樓
02:31
You started working with this man here.
49
151685
2452
也開始跟這人合作
02:34
Who is this?
50
154161
1164
他是誰?
02:36
JS: Oh, [Shiing-Shen] Chern.
51
156352
1412
(西) 喔,陳省身
02:37
Chern was one of the great mathematicians of the century.
52
157788
3104
陳是那世紀最厲害的數學家
02:40
I had known him when I was a graduate student at Berkeley.
53
160916
5233
我在柏克萊念碩士時,就知道他
02:46
And I had some ideas,
54
166173
1871
我有些想法
02:48
and I brought them to him and he liked them.
55
168068
2447
告訴了他,他很喜歡
02:50
Together, we did this work which you can easily see up there.
56
170539
6626
我們便一起努力,就上面你看到的
02:57
There it is.
57
177189
1150
就是這個
02:59
CA: It led to you publishing a famous paper together.
58
179198
3606
(安) 你們共同發表了著名論文
03:02
Can you explain at all what that work was?
59
182828
3238
可以談研究內容嗎?
03:07
JS: No.
60
187028
1158
(西) 不行
03:08
(Laughter)
61
188210
2274
(笑聲)
03:10
JS: I mean, I could explain it to somebody.
62
190966
2064
(西) 我是說,可以講給別人聽
03:13
(Laughter)
63
193054
2075
(笑聲)
03:15
CA: How about explaining this?
64
195153
1864
(安) 如果說明這個呢?
03:17
JS: But not many. Not many people.
65
197041
2729
(西) 可是, 不會向太多人
03:21
CA: I think you told me it had something to do with spheres,
66
201144
2814
(安) 你曾告訴我,這跟球體有關
03:23
so let's start here.
67
203982
1862
從這說起吧
03:25
JS: Well, it did, but I'll say about that work --
68
205868
3600
(西) 我要講那研究-
03:29
it did have something to do with that, but before we get to that --
69
209492
3200
是有關球形, 但我想先說
03:32
that work was good mathematics.
70
212716
3540
那是一流的數學研究
03:36
I was very happy with it; so was Chern.
71
216280
2492
我非常高興,陳也是
03:39
It even started a little sub-field that's now flourishing.
72
219910
4176
它甚至促成一個次領域,現在很興盛
03:44
But, more interestingly, it happened to apply to physics,
73
224638
5294
更棒的是它被用於物理
03:49
something we knew nothing about -- at least I knew nothing about physics,
74
229956
4295
一個未知領域,至少我不懂物理
03:54
and I don't think Chern knew a heck of a lot.
75
234275
2282
我想陳也只略知皮毛
03:56
And about 10 years after the paper came out,
76
236581
3963
論文發表10年後
04:00
a guy named Ed Witten in Princeton started applying it to string theory
77
240568
4480
普林斯頓的愛德華·維騰 把它用在弦理論
04:05
and people in Russia started applying it to what's called "condensed matter."
78
245072
4852
俄國人則用於所謂"凝聚體"研究
04:09
Today, those things in there called Chern-Simons invariants
79
249948
4893
如今這些被稱為"陳-西蒙不變式"
04:14
have spread through a lot of physics.
80
254865
1865
廣泛應用在物理界
04:16
And it was amazing.
81
256754
1174
這太不可思議
04:17
We didn't know any physics.
82
257952
1365
我們完全是物理門外漢
04:19
It never occurred to me that it would be applied to physics.
83
259714
2854
從沒想過會被用於物理
04:22
But that's the thing about mathematics -- you never know where it's going to go.
84
262592
3788
然而,這就是數學 你總猜不到它的去向
04:26
CA: This is so incredible.
85
266404
1492
(安) 真難以置信
04:27
So, we've been talking about how evolution shapes human minds
86
267920
4364
我們談到演化如何形塑人類思想
04:32
that may or may not perceive the truth.
87
272308
2508
無論思想是否關於真理
04:34
Somehow, you come up with a mathematical theory,
88
274840
3313
你就這樣得出一個數學理論
04:38
not knowing any physics,
89
278177
1848
完全不懂物理
04:40
discover two decades later that it's being applied
90
280049
2498
這理論20年後被用來
04:42
to profoundly describe the actual physical world.
91
282571
3031
深入描述實際物理世界
04:45
How can that happen?
92
285626
1153
怎麼辦到的?
04:46
JS: God knows.
93
286803
1157
(西) 天曉得
04:47
(Laughter)
94
287984
2110
(笑聲)
04:50
But there's a famous physicist named [Eugene] Wigner,
95
290849
3150
知名物理學家尤金·維格納
04:54
and he wrote an essay on the unreasonable effectiveness of mathematics.
96
294023
5588
曾撰文談到數學不合理的有效性
04:59
Somehow, this mathematics, which is rooted in the real world
97
299635
3952
不管怎樣, 數學本就源自真實世界
05:03
in some sense -- we learn to count, measure, everyone would do that --
98
303611
4995
例如學計算、測量,大家都這麼做
05:08
and then it flourishes on its own.
99
308630
1830
這學門自己繁盛起來
05:10
But so often it comes back to save the day.
100
310976
2841
常常一回到數學,困難就迎刃而解
05:14
General relativity is an example.
101
314293
2178
廣義相對論就是一例
05:16
[Hermann] Minkowski had this geometry, and Einstein realized,
102
316495
3117
愛因斯坦學了閔可夫斯基的幾何學後
05:19
"Hey! It's the very thing in which I can cast general relativity."
103
319636
3847
驚呼「就是它了! 幫我釐清廣義相對論」
05:23
So, you never know. It is a mystery.
104
323507
3112
所以, 你搞不懂的,這太奧秘了
05:27
It is a mystery.
105
327056
1217
超乎常理
05:28
CA: So, here's a mathematical piece of ingenuity.
106
328297
3296
(安) 關於數學的獨創性
05:31
Tell us about this.
107
331617
1342
講講這個
05:32
JS: Well, that's a ball -- it's a sphere, and it has a lattice around it --
108
332983
5924
(西) 這是顆球-球體,球面被格狀劃分
05:38
you know, those squares.
109
338931
1573
就那些四方形
05:42
What I'm going to show here was originally observed by [Leonhard] Euler,
110
342697
4906
我要講的是(萊昂納多)歐拉發現的
05:47
the great mathematician, in the 1700s.
111
347627
2254
18世紀偉大的數學家
05:50
And it gradually grew to be a very important field in mathematics:
112
350223
5181
這現象逐漸成為重要的數學領域
05:55
algebraic topology, geometry.
113
355428
2334
代數拓樸學、幾何學
05:59
That paper up there had its roots in this.
114
359039
4364
我的研究即從這來
06:03
So, here's this thing:
115
363427
1834
是這樣的
06:05
it has eight vertices, 12 edges, six faces.
116
365285
4452
這裡有8頂點、12邊和6面
06:09
And if you look at the difference -- vertices minus edges plus faces --
117
369761
3830
如果加以運算:頂點數-邊數+面數
06:13
you get two.
118
373615
1152
得到2
06:14
OK, well, two. That's a good number.
119
374791
2219
嗯,好一個2
06:17
Here's a different way of doing it -- these are triangles covering --
120
377034
4248
換方法做,佈滿三角形
06:21
this has 12 vertices and 30 edges
121
381306
4577
有12個頂點,30個邊
06:25
and 20 faces, 20 tiles.
122
385907
4195
和20個面
06:30
And vertices minus edges plus faces still equals two.
123
390576
4591
此時點-邊+面仍是2
06:35
And in fact, you could do this any which way --
124
395191
2847
事實上,你可用任何方法
06:38
cover this thing with all kinds of polygons and triangles
125
398062
3398
球上蓋滿各種多邊形和三角形
06:41
and mix them up.
126
401484
1320
混合在一起
06:42
And you take vertices minus edges plus faces -- you'll get two.
127
402828
3279
再把點-邊+面,得到2
06:46
Here's a different shape.
128
406131
1611
這是另一種形狀
06:48
This is a torus, or the surface of a doughnut: 16 vertices
129
408480
5250
這是環面,甜甜圈形表面16頂點
06:53
covered by these rectangles, 32 edges, 16 faces.
130
413754
4244
覆蓋長方形,32邊,16面
06:58
Vertices minus edges comes out to be zero.
131
418530
2684
點-邊+面得出0
07:01
It'll always come out to zero.
132
421238
1475
答案永遠是0
07:02
Every time you cover a torus with squares or triangles
133
422737
4310
只要用長方或三角形 覆蓋環面
07:07
or anything like that, you're going to get zero.
134
427071
3935
答案總是0
07:12
So, this is called the Euler characteristic.
135
432514
2390
這稱為歐拉示性數
07:14
And it's what's called a topological invariant.
136
434928
3449
也叫做拓樸不變量
07:18
It's pretty amazing.
137
438849
1156
這很神奇
07:20
No matter how you do it, you're always get the same answer.
138
440029
2791
不論你怎麼劃,答案總是一樣
07:22
So that was the first sort of thrust, from the mid-1700s,
139
442844
6299
這是18世紀中以來第一個刺激
07:29
into a subject which is now called algebraic topology.
140
449167
3769
後來變成代數拓樸學
07:32
CA: And your own work took an idea like this and moved it
141
452960
2983
(安) 你對此更深入研究
07:35
into higher-dimensional theory,
142
455967
2449
到更高維度理論
07:38
higher-dimensional objects, and found new invariances?
143
458440
3088
更高維度的物體,找新的不變量?
07:41
JS: Yes. Well, there were already higher-dimensional invariants:
144
461552
4643
是, 高維不變量已找到了
07:46
Pontryagin classes -- actually, there were Chern classes.
145
466219
4457
龐特里亞金示性類,還有陳示性類
07:50
There were a bunch of these types of invariants.
146
470700
3548
一大堆這類不變量
07:54
I was struggling to work on one of them
147
474272
4135
那時我努力研究其中一個
07:58
and model it sort of combinatorially,
148
478431
4203
發展成某種組合模型
08:02
instead of the way it was typically done,
149
482658
3022
不用既有標準方法
08:05
and that led to this work and we uncovered some new things.
150
485704
4359
這變成我們的研究,也發現新東西
08:10
But if it wasn't for Mr. Euler --
151
490087
3501
但如果沒有歐拉
08:13
who wrote almost 70 volumes of mathematics
152
493612
3981
寫下70卷數學書
08:17
and had 13 children,
153
497617
1731
養育13個子女
08:19
who he apparently would dandle on his knee while he was writing --
154
499372
6442
想必是邊寫邊逗弄幼兒
08:25
if it wasn't for Mr. Euler, there wouldn't perhaps be these invariants.
155
505838
5774
若非歐拉, 就沒有這些不變量
08:32
CA: OK, so that's at least given us a flavor of that amazing mind in there.
156
512157
4097
(安) 恩, 我們瞭解了,奇特的心路歷程
08:36
Let's talk about Renaissance.
157
516804
1543
現在讓我們談談文藝復興科技公司
08:38
Because you took that amazing mind and having been a code-cracker at the NSA,
158
518371
5856
由於你曾任NSA解碼員的研究經歷
08:44
you started to become a code-cracker in the financial industry.
159
524251
3229
你開始當金融界的解碼員
08:47
I think you probably didn't buy efficient market theory.
160
527504
2690
我想你不相信效率市場理論
08:50
Somehow you found a way of creating astonishing returns over two decades.
161
530218
6387
20年來,你有辦法獲利驚人
08:56
The way it's been explained to me,
162
536629
1671
對我來說你的方法
08:58
what's remarkable about what you did wasn't just the size of the returns,
163
538324
3499
驚人之處不在於獲利金額多寡
09:01
it's that you took them with surprisingly low volatility and risk,
164
541847
3883
而是大幅降低變動性與風險
09:05
compared with other hedge funds.
165
545754
1824
相較其他對沖基金
09:07
So how on earth did you do this, Jim?
166
547602
1929
你到底怎麼辦到的?
09:10
JS: I did it by assembling a wonderful group of people.
167
550071
4111
(西) 我靠集合一群優秀的人
09:14
When I started doing trading, I had gotten a little tired of mathematics.
168
554206
3956
我開始經商時,我對數學已有些厭煩
09:18
I was in my late 30s, I had a little money.
169
558186
3923
年紀快40,手頭有點錢
09:22
I started trading and it went very well.
170
562133
2509
便開始做買賣,結果非常成功
09:25
I made quite a lot of money with pure luck.
171
565063
2748
純靠運氣賺了一大筆錢
09:27
I mean, I think it was pure luck.
172
567835
1666
我說,我認為是好運
09:29
It certainly wasn't mathematical modeling.
173
569525
2109
而肯定不是數學模型
09:31
But in looking at the data, after a while I realized:
174
571658
3831
但我審視這些數字後
09:35
it looks like there's some structure here.
175
575513
2553
發覺現似有固定模式
09:38
And I hired a few mathematicians, and we started making some models --
176
578090
3697
我便請幾位數學家,弄了幾個模型
09:41
just the kind of thing we did back at IDA [Institute for Defense Analyses].
177
581811
4265
類似我在防衛分析研究所做的
09:46
You design an algorithm, you test it out on a computer.
178
586100
2833
設計一套演算法,用電腦測試
09:48
Does it work? Doesn't it work? And so on.
179
588957
2166
能用?不能用? 之類的
09:51
CA: Can we take a look at this?
180
591443
1479
(安) 可否看看這個?
09:52
Because here's a typical graph of some commodity.
181
592946
4541
這是常見的商品銷售圖
09:58
I look at that, and I say, "That's just a random, up-and-down walk --
182
598487
4041
我想:「不過是隨機走高走低-
10:02
maybe a slight upward trend over that whole period of time."
183
602552
2862
整體趨勢緩升」
10:05
How on earth could you trade looking at that,
184
605438
2113
你到底怎麼看這隨機圖
10:07
and see something that wasn't just random?
185
607575
2326
就能做生意、發現東西?
10:09
JS: In the old days -- this is kind of a graph from the old days,
186
609925
3247
(西) 這圖很老套了
10:13
commodities or currencies had a tendency to trend.
187
613196
4284
商品或貨幣有其趨勢
10:17
Not necessarily the very light trend you see here, but trending in periods.
188
617504
6055
不必然像這樣,但一段時間有其走向
10:23
And if you decided, OK, I'm going to predict today,
189
623583
4056
如果你決定,好,我要預測今天
10:27
by the average move in the past 20 days --
190
627663
4968
靠前20日的平均變化
10:32
maybe that would be a good prediction, and I'd make some money.
191
632655
3107
也許可猜得準,也賺到錢
10:35
And in fact, years ago, such a system would work --
192
635786
5608
事實上幾年前,這系統還可行
10:41
not beautifully, but it would work.
193
641418
2391
不漂亮,但過得去
10:43
You'd make money, you'd lose money, you'd make money.
194
643833
2509
賺了,賠了,又賺
10:46
But this is a year's worth of days,
195
646366
2198
但這是一年內表現最好的幾天
10:48
and you'd make a little money during that period.
196
648588
4241
這期間賺得不多
10:53
It's a very vestigial system.
197
653884
1958
這系統老掉牙了
10:56
CA: So you would test a bunch of lengths of trends in time
198
656525
3529
(安) 所以你用不同期間長短
11:00
and see whether, for example,
199
660078
2436
的趨勢來檢視,例如
11:02
a 10-day trend or a 15-day trend was predictive of what happened next.
200
662538
3481
是10天還是15天的走勢預測較準
(西) 沒錯,都得試過才知道
11:06
JS: Sure, you would try all those things and see what worked best.
201
666043
6762
順勢投資法 在60年代或許非常好用
11:13
Trend-following would have been great in the '60s,
202
673515
3350
11:16
and it was sort of OK in the '70s.
203
676889
2132
70年代還可以
11:19
By the '80s, it wasn't.
204
679045
1873
到80年代就玩不通了
11:20
CA: Because everyone could see that.
205
680942
2817
(安) 因為任何人都看得出來
11:23
So, how did you stay ahead of the pack?
206
683783
2782
你是怎麼持續領先的?
11:27
JS: We stayed ahead of the pack by finding other approaches --
207
687046
6132
(西) 我們靠開發其他方法保持領先-
11:33
shorter-term approaches to some extent.
208
693202
2741
像是期間更短的方法
實際上是蒐集無數資料
11:37
The real thing was to gather a tremendous amount of data --
209
697107
3347
11:40
and we had to get it by hand in the early days.
210
700478
3578
早期都一筆筆抄回來
11:44
We went down to the Federal Reserve and copied interest rate histories
211
704080
3466
我們到聯準會影印歷史利率
11:47
and stuff like that, because it didn't exist on computers.
212
707570
3265
之類的,那時還沒有電腦
11:50
We got a lot of data.
213
710859
1643
我們取得大批資料
11:52
And very smart people -- that was the key.
214
712526
4160
和絕頂聰明的人——這是關鍵
11:57
I didn't really know how to hire people to do fundamental trading.
215
717463
3776
我不太會找人做實際買賣
12:01
I had hired a few -- some made money, some didn't make money.
216
721749
2949
我請過幾個——有人能賺,有的不行
12:04
I couldn't make a business out of that.
217
724722
1880
我不能這樣做生意
12:06
But I did know how to hire scientists,
218
726626
2042
但我知道怎麼請科學家
12:08
because I have some taste in that department.
219
728692
3389
這方面我比較有品味
12:12
So, that's what we did.
220
732105
1838
所以就這麼做了
12:13
And gradually these models got better and better,
221
733967
3231
模型表現越來越好
12:17
and better and better.
222
737222
1335
越來越順
12:18
CA: You're credited with doing something remarkable at Renaissance,
223
738581
3214
(安) 你帶領文藝復興公司的成果驚艷
12:21
which is building this culture, this group of people,
224
741819
2601
塑造了一種文化、一群人
12:24
who weren't just hired guns who could be lured away by money.
225
744444
3142
他們不是老想錢的傭兵
12:27
Their motivation was doing exciting mathematics and science.
226
747610
3912
而一心想玩數學和科學
12:31
JS: Well, I'd hoped that might be true.
227
751860
2399
(西) 我希望這是真的
12:34
But some of it was money.
228
754283
3580
但有些動機真的是錢
12:37
CA: They made a lot of money.
229
757887
1393
(安) 他們賺了好多
12:39
JS: I can't say that no one came because of the money.
230
759304
2537
(西) 我不信沒人在乎錢
12:41
I think a lot of them came because of the money.
231
761865
2253
我想許多人來都想賺錢
但他們也想樂在其中
12:44
But they also came because it would be fun.
232
764142
2021
12:46
CA: What role did machine learning play in all this?
233
766187
2488
(安) 當中機器學習的角色是?
12:48
JS: In a certain sense, what we did was machine learning.
234
768699
3064
(西) 某些情況下,我們就是做機器學習
12:52
You look at a lot of data, and you try to simulate different predictive schemes,
235
772879
6291
你面對成堆資料,試著模擬各種預測系統
12:59
until you get better and better at it.
236
779194
2182
直到越發熟練
13:01
It doesn't necessarily feed back on itself the way we did things.
237
781400
3767
它不一定會跟人一樣主動回饋資料
13:05
But it worked.
238
785191
2309
但仍滿好用的
13:08
CA: So these different predictive schemes can be really quite wild and unexpected.
239
788150
4059
(安) 所以不同預測系統很難駕馭與掌握
13:12
I mean, you looked at everything, right?
240
792233
1914
意思是,你什麼都算,是嗎?
13:14
You looked at the weather, length of dresses, political opinion.
241
794171
3317
天氣、裙長、政治評論
13:17
JS: Yes, length of dresses we didn't try.
242
797512
2837
(西) 是的,裙長倒沒試過
13:20
CA: What sort of things?
243
800373
2057
(安) 哪類東西?
13:22
JS: Well, everything.
244
802454
1158
(西) 所有東西
13:23
Everything is grist for the mill -- except hem lengths.
245
803636
3264
什麼都可用-除了衣擺長度
13:28
Weather, annual reports,
246
808852
2300
天氣、年報
13:31
quarterly reports, historic data itself, volumes, you name it.
247
811176
4732
季報、歷史資料、冊數,只要你叫得出來
13:35
Whatever there is.
248
815932
1151
管他是什麼
13:37
We take in terabytes of data a day.
249
817107
2621
我們每天取得1T的資料
13:39
And store it away and massage it and get it ready for analysis.
250
819752
4124
接著儲存、處理、準備分析
13:45
You're looking for anomalies.
251
825446
1382
尋找突出的現象
13:46
You're looking for -- like you said,
252
826852
2953
在找——就像你說的
13:49
the efficient market hypothesis is not correct.
253
829829
2452
效率市場假說並不正確
13:52
CA: But any one anomaly might be just a random thing.
254
832305
3467
(安) 但任何奇特現象都可能只是隨機現象
13:55
So, is the secret here to just look at multiple strange anomalies,
255
835796
3658
所以秘訣是在與注意多次出現的異狀,
13:59
and see when they align?
256
839478
1328
並觀察何時接連出現嗎?
14:01
JS: Any one anomaly might be a random thing;
257
841238
3213
(西) 任何異常狀可能只是恰巧
14:04
however, if you have enough data you can tell that it's not.
258
844475
3039
不過看夠多資料後 就知並非如此
14:07
You can see an anomaly that's persistent for a sufficiently long time --
259
847538
4950
會發現異常持續很久
14:12
the probability of it being random is not high.
260
852512
4975
隨機出現的機率反而不高
14:17
But these things fade after a while; anomalies can get washed out.
261
857511
4858
一陣子它會不見,異常會消失
14:22
So you have to keep on top of the business.
262
862393
2420
所以我們得保持領先
14:24
CA: A lot of people look at the hedge fund industry now
263
864837
2672
(安) 目前人們看對沖基金產業
14:27
and are sort of ... shocked by it,
264
867533
4398
都感到震驚
14:31
by how much wealth is created there,
265
871955
2172
竟創造這麼多財富
14:34
and how much talent is going into it.
266
874151
2245
又得投入大量腦力
14:37
Do you have any worries about that industry,
267
877523
4006
你擔心這產業嗎?
14:41
and perhaps the financial industry in general?
268
881553
2414
或對整個金融業?
14:43
Kind of being on a runaway train that's --
269
883991
2704
好似脫韁野馬
14:46
I don't know -- helping increase inequality?
270
886719
4030
我不曉得——助長社會不平等?
14:50
How would you champion what's happening in the hedge fund industry?
271
890773
3831
你為何支持對沖基金的近來發展?
14:54
JS: I think in the last three or four years,
272
894628
2608
(西) 我想近3、4年
14:57
hedge funds have not done especially well.
273
897260
2103
對沖基金表現平平
14:59
We've done dandy,
274
899387
1400
我們曾風光一時
15:00
but the hedge fund industry as a whole has not done so wonderfully.
275
900811
4001
但這產業走得不太順
15:04
The stock market has been on a roll, going up as everybody knows,
276
904836
4902
眾所周知,股市向來平步青雲
15:09
and price-earnings ratios have grown.
277
909762
3445
本益比增加了
15:13
So an awful lot of the wealth that's been created in the last --
278
913231
3063
過去5、6年錢賺到嚇死人
15:16
let's say, five or six years -- has not been created by hedge funds.
279
916318
3350
但對沖基金就較差
15:20
People would ask me, "What's a hedge fund?"
280
920458
3221
人們問我:「什麼是對沖基金?」
15:23
And I'd say, "One and 20."
281
923703
2260
我說:「1和20」
15:25
Which means -- now it's two and 20 --
282
925987
3566
意思是——現在是2和20
15:29
it's two percent fixed fee and 20 percent of profits.
283
929577
3353
2%的固定手續費,20%的獲利抽成
15:32
Hedge funds are all different kinds of creatures.
284
932954
2352
各家對沖基金差異很大
15:35
CA: Rumor has it you charge slightly higher fees than that.
285
935330
3239
(安) 有流言說,你收的高些
15:39
JS: We charged the highest fees in the world at one time.
286
939339
3081
(西) 我們的手續費一度是世界最高
15:42
Five and 44, that's what we charge.
287
942444
3226
5和44,就這個價格
15:45
CA: Five and 44.
288
945694
1398
(安) 5和44
15:47
So five percent flat, 44 percent of upside.
289
947116
3234
5%固定費用,44%獲利抽成
15:50
You still made your investors spectacular amounts of money.
290
950374
2783
你仍幫客戶賺進大把鈔票
15:53
JS: We made good returns, yes.
291
953181
1452
(西) 是的,收益很不錯
15:54
People got very mad: "How can you charge such high fees?"
292
954657
3000
人們氣我:「這太貴了」
15:57
I said, "OK, you can withdraw."
293
957681
1627
我說:「OK,你可退出」
15:59
But "How can I get more?" was what people were --
294
959332
2818
但「如何賺更多」就是人們...
16:02
(Laughter)
295
962174
1504
(笑聲)
16:03
But at a certain point, as I think I told you,
296
963702
2440
但重點是,我跟你提過
16:06
we bought out all the investors because there's a capacity to the fund.
297
966166
5175
我們收購了所有投資者,因為這基金能賺
16:11
CA: But should we worry about the hedge fund industry
298
971365
2704
(安) 但該替對沖基金業擔心嗎?
16:14
attracting too much of the world's great mathematical and other talent
299
974093
5438
它吸走太多全球優秀的數學等人才
16:19
to work on that, as opposed to the many other problems in the world?
300
979555
3238
只做這事,而無視世界其他問題
16:22
JS: Well, it's not just mathematical.
301
982817
1929
(西) 這個嘛,不單數學家
16:24
We hire astronomers and physicists and things like that.
302
984770
2679
我們也聘請天文學家和物理學家等
16:27
I don't think we should worry about it too much.
303
987833
2431
我不覺得我們應當過於擔心
16:30
It's still a pretty small industry.
304
990288
3142
這產業規模仍小
16:33
And in fact, bringing science into the investing world
305
993454
5997
事實上,把科學引入投資界
16:39
has improved that world.
306
999475
2159
對世界有益
16:41
It's reduced volatility. It's increased liquidity.
307
1001658
4070
可降低變動性,提高流動性
16:45
Spreads are narrower because people are trading that kind of stuff.
308
1005752
3189
因人們交易這東西,擴散範圍變更小
16:48
So I'm not too worried about Einstein going off and starting a hedge fund.
309
1008965
5076
我不擔心愛因斯坦出走搞對沖基金
16:54
CA: You're at a phase in your life now where you're actually investing, though,
310
1014478
4164
(安) 你現在的人生階段是,一方面進出市場
16:58
at the other end of the supply chain --
311
1018666
3734
但在供應鏈另一端
17:02
you're actually boosting mathematics across America.
312
1022424
4104
也正促進全美數學發展
17:06
This is your wife, Marilyn.
313
1026552
1865
這是您的夫人,瑪麗蓮
17:08
You're working on philanthropic issues together.
314
1028441
4756
您倆攜手從事慈善工作
17:13
Tell me about that.
315
1033221
1163
說說這個
17:14
JS: Well, Marilyn started --
316
1034408
3649
(西) 嗯,瑪麗蓮-
17:18
there she is up there, my beautiful wife --
317
1038081
3447
這就是她,我美麗的老婆
17:21
she started the foundation about 20 years ago.
318
1041552
2972
20年前她創立一基金會
17:24
I think '94.
319
1044548
1151
我想是1994年
17:25
I claim it was '93, she says it was '94,
320
1045723
2095
我說1993, 她說1994
17:27
but it was one of those two years.
321
1047842
2571
就這兩年間
17:30
(Laughter)
322
1050437
2135
(笑聲)
17:32
We started the foundation, just as a convenient way to give charity.
323
1052596
6719
我們創立基金會以便做慈善工作
17:40
She kept the books, and so on.
324
1060346
2507
她負責管帳等事
17:42
We did not have a vision at that time, but gradually a vision emerged --
325
1062877
6714
那時我們沒太多想法,後來逐漸找到方向——
17:49
which was to focus on math and science, to focus on basic research.
326
1069615
5504
投入數學、科學和基礎研究
17:55
And that's what we've done.
327
1075569
2772
這就是我們在做的
17:58
Six years ago or so, I left Renaissance and went to work at the foundation.
328
1078365
6355
6年前我離開文藝復興公司,改在基金會工作
18:04
So that's what we do.
329
1084744
1571
我們在做這個
18:06
CA: And so Math for America is basically investing
330
1086339
2909
(安) Math for America計畫,基本上是投資
18:09
in math teachers around the country,
331
1089272
2638
全國數學教師
18:11
giving them some extra income, giving them support and coaching.
332
1091934
3802
提供額外收入並給予支持和指導
18:15
And really trying to make that more effective
333
1095760
3051
讓計畫更有效運作
18:18
and make that a calling to which teachers can aspire.
334
1098835
2601
號召有理想的老師
18:21
JS: Yeah -- instead of beating up the bad teachers,
335
1101460
4790
(西) 是的——與其懲罰不適任者
18:26
which has created morale problems all through the educational community,
336
1106274
4853
會拖累教育士氣的人
18:31
in particular in math and science,
337
1111151
2441
特別在數理科
18:33
we focus on celebrating the good ones and giving them status.
338
1113616
6130
我們著重鼓勵好老師,給他們地位
18:39
Yeah, we give them extra money, 15,000 dollars a year.
339
1119770
2931
是的,我們每年給他們1萬5千美元額外收入
18:42
We have 800 math and science teachers in New York City in public schools today,
340
1122725
4467
目前紐約市有800名公立學校數理教師
18:47
as part of a core.
341
1127216
1814
是核心成員
18:49
There's a great morale among them.
342
1129054
3686
他們士氣高昂
18:52
They're staying in the field.
343
1132764
2506
專注在這領域
18:55
Next year, it'll be 1,000 and that'll be 10 percent
344
1135294
2895
明年將增至1千人
18:58
of the math and science teachers in New York [City] public schools.
345
1138213
3544
即紐約公立學校10%的數理教師
19:01
(Applause)
346
1141781
5905
(掌聲)
19:07
CA: Jim, here's another project that you've supported philanthropically:
347
1147710
3410
(安) 你還資助另一計畫
19:11
Research into origins of life, I guess.
348
1151144
2397
研究生命的起源, 是吧
19:13
What are we looking at here?
349
1153565
1447
這是什麼?
19:15
JS: Well, I'll save that for a second.
350
1155536
1882
(西) 先擱一邊
19:17
And then I'll tell you what you're looking at.
351
1157442
2162
等會再說這圖
19:19
Origins of life is a fascinating question.
352
1159628
3056
生命源起令人著迷
19:22
How did we get here?
353
1162708
1533
如何找到答案?
19:25
Well, there are two questions:
354
1165170
1771
這要處理兩個問題
19:26
One is, what is the route from geology to biology --
355
1166965
5868
一是,從地質學往生物學
19:32
how did we get here?
356
1172857
1381
路在哪裡?
19:34
And the other question is, what did we start with?
357
1174262
2364
二是,從哪下手?
19:36
What material, if any, did we have to work with on this route?
358
1176650
3102
一路上需哪些材料?
19:39
Those are two very, very interesting questions.
359
1179776
3061
這兩問題非常有趣
19:43
The first question is a tortuous path from geology up to RNA
360
1183773
5834
問題一是條曲折路,從地質學到RNA
19:49
or something like that -- how did that all work?
361
1189631
2258
之類的——這如何可能?
19:51
And the other, what do we have to work with?
362
1191913
2388
問題二是需要什麼東西
19:54
Well, more than we think.
363
1194325
1771
這超乎我們想像
19:56
So what's pictured there is a star in formation.
364
1196120
4843
所以,這是張星體形成圖
20:01
Now, every year in our Milky Way, which has 100 billion stars,
365
1201836
3425
在千億星體組成的銀河系裡
20:05
about two new stars are created.
366
1205285
2495
每年都誕生兩顆星星
20:07
Don't ask me how, but they're created.
367
1207804
2470
別問過程,反正就誕生了
20:10
And it takes them about a million years to settle out.
368
1210298
3080
接著要百萬年才穩定下來
20:14
So, in steady state,
369
1214132
2176
型態固定了
20:16
there are about two million stars in formation at any time.
370
1216332
3848
宇宙形成中的星星隨時都有兩百萬顆
20:20
That one is somewhere along this settling-down period.
371
1220204
3458
那顆星正逐漸穩定
20:24
And there's all this crap sort of circling around it,
372
1224067
2936
周遭圍繞著廢棄物
20:27
dust and stuff.
373
1227027
1498
塵埃和其他東西
20:29
And it'll form probably a solar system, or whatever it forms.
374
1229479
3023
它可能形成太陽系,或者其他什麼
20:32
But here's the thing --
375
1232526
2176
但關鍵是——
20:34
in this dust that surrounds a forming star
376
1234726
6348
形成中星體周遭的塵土裡
20:41
have been found, now, significant organic molecules.
377
1241098
6035
現在研究發現重要的有機分子
20:47
Molecules not just like methane, but formaldehyde and cyanide --
378
1247958
6139
不只有甲烷,還有甲醛、氰化物
20:54
things that are the building blocks -- the seeds, if you will -- of life.
379
1254121
6517
這種基礎物質——或者生命的種子
21:01
So, that may be typical.
380
1261136
2692
這可能是典型過程
21:04
And it may be typical that planets around the universe
381
1264395
6934
宇宙星體也可能經此典型過程
21:11
start off with some of these basic building blocks.
382
1271353
3612
由基礎組成物建立起來
21:15
Now does that mean there's going to be life all around?
383
1275830
2715
這代表到處都存在生命?
21:18
Maybe.
384
1278569
1364
也許
21:19
But it's a question of how tortuous this path is
385
1279957
4127
但問題在於這過程多麼迂迴曲折
21:24
from those frail beginnings, those seeds, all the way to life.
386
1284108
4394
從渺小的起頭, 種子演變成生命
21:28
And most of those seeds will fall on fallow planets.
387
1288526
5192
這類種子絕大多數落在休眠星體上
21:33
CA: So for you, personally,
388
1293742
1409
(安) 那麼對你個人來說
21:35
finding an answer to this question of where we came from,
389
1295175
2722
尋找答案,關於你我的起源
21:37
of how did this thing happen, that is something you would love to see.
390
1297921
3658
和源起過程是你想知道的
21:41
JS: Would love to see.
391
1301603
1786
(西) 我很期待
21:43
And like to know --
392
1303413
1490
也想知道——
21:44
if that path is tortuous enough, and so improbable,
393
1304927
5170
如果這路如此艱辛、渺茫
21:50
that no matter what you start with, we could be a singularity.
394
1310121
4754
那不論源頭是什麼,你我都可能是個奇點
21:55
But on the other hand,
395
1315336
1152
但另方面
21:56
given all this organic dust that's floating around,
396
1316512
3478
由於懸浮在外的有機塵埃
22:00
we could have lots of friends out there.
397
1320014
3791
遠方我們也許有很多朋友
22:04
It'd be great to know.
398
1324947
1161
知道這個感覺很好
22:06
CA: Jim, a couple of years ago, I got the chance to speak with Elon Musk,
399
1326132
3480
(安) 幾年前,我有機會和伊隆·馬斯克對談
22:09
and I asked him the secret of his success,
400
1329636
2837
我請教他成功的秘訣
22:12
and he said taking physics seriously was it.
401
1332497
3691
他說好好把物理當回事
22:16
Listening to you, what I hear you saying is taking math seriously,
402
1336696
4003
而你所說的,我覺得是把數學當回事
22:20
that has infused your whole life.
403
1340723
3003
它飽滿了你的人生
22:24
It's made you an absolute fortune, and now it's allowing you to invest
404
1344123
4563
它給你帶來可觀的收入,可以投資
22:28
in the futures of thousands and thousands of kids across America and elsewhere.
405
1348710
4496
全美、甚至其他地方數千位孩童的未來
22:33
Could it be that science actually works?
406
1353567
2858
真是這學科的功勞嗎?
22:36
That math actually works?
407
1356449
2772
數學真起作用了?
22:39
JS: Well, math certainly works. Math certainly works.
408
1359245
4372
(西) 數學本身一定是確實有效的
22:43
But this has been fun.
409
1363641
1198
但有趣的是
22:44
Working with Marilyn and giving it away has been very enjoyable.
410
1364863
4946
和瑪麗蓮同心捐助也真是人生至樂
22:49
CA: I just find it -- it's an inspirational thought to me,
411
1369833
2936
(安) 我發現——這啟發了我
22:52
that by taking knowledge seriously, so much more can come from it.
412
1372793
4007
認真做好一門學問,更多好事由此而來
22:56
So thank you for your amazing life, and for coming here to TED.
413
1376824
3018
感謝你來 TED 分享不凡的人生
22:59
Thank you.
414
1379866
751
謝謝你
23:00
Jim Simons!
415
1380651
1101
詹姆士‧西蒙斯
23:01
(Applause)
416
1381806
4380
(掌聲)
關於本網站

本網站將向您介紹對學習英語有用的 YouTube 視頻。 您將看到來自世界各地的一流教師教授的英語課程。 雙擊每個視頻頁面上顯示的英文字幕,從那裡播放視頻。 字幕與視頻播放同步滾動。 如果您有任何意見或要求,請使用此聯繫表與我們聯繫。

https://forms.gle/WvT1wiN1qDtmnspy7