Quants borrow from NASA and the military

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The search for the perfect model takes funds into new scientific areas

When scientist Bryan Evans was recruited by a Washington D.C. consulting group for the U.S. Department of Defense in the late 1990s to develop systems and software to track military submarines, he could not have imagined that the algorithms he created would later be used to time trades for hedge funds.

However, he now knows that these algorithms have a direct relevance to financial markets. "Whether you are talking about projecting the location of a submarine, missile trajectories based on imperfect data, or predicting the success of