Goldman’s next 25 sigma event may be blamed on Skynet

Goldman have reportedly replaced 600 traders with 200 computer engineers since 2000. The ratio however, doesn’t look very efficient, so presumably they’re working on other projects such as AI, although once this is developed there may not be too much demand then for Javascript developers either.


Hopefully, the programming and models will be a little more accurate than David Viniar’s slightly miss-quoted 25 sigma event in 2008 (he actually said “We were seeing things that were 25-standard deviation moves, several days in a row.” But will getting bailed out by the Fed still be a sub 1 sigma?