““The subtler and stranger the correlation—like the relationship between sunny weather and rising markets—the less likely that others would spot it and cause it to go away. “The signals that we have been trading without interruption for fifteen years make no sense,” Mercer explained to Mallaby in a rare interview in 2008. “Otherwise someone else would have found it.” The other advantage Renaissance held was its ability to exploit these faint patterns, even if they were individually modest. Because””
