<table><tr><th>From:</th><th>Vincenzo lozzo</th></tr><tr><td>Sent:
To:</td><td>Sunday, May 1, 2016 3:05 PM
jeffrey E.</td></tr><tr><td>Subject:</td><td>One thing about Al funds</td></tr></table>

So you probably know this but a couple of hedge funds recently closed becaus= essentially they said that things in the market these days stay correlated=for longer than it makes sense - partially because of algo-trading.

I don't know if this is obvious to people or not but I think there's an inte=esting opportunity there because there's an asymmetry: the times it takes s=mebody to rewrite a learning algorithm is much longer than for two stocks (=r whatever asset class) to become uncorrelated

Sent from my (phone

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