Like Statistical Minds?

Several weeks ago I listened to a presentation by David Wilt, co-founder of QuantyCarlo [QC], and for perhaps the first time in the option trading space, I heard what sounded like a kindred spirit. Today I will post some excerpts.

     “With this tool you can propose a set of values for DTE, study them, and then evaluate
     them: which gives you the best results and whether or not—and this is tremendously
     important—any of those results are statistically significant or whether you are simply
     looking at the random, stochastic behavior of trades in a sample space.”

     “Desirability index is a standard method in inferential statistics and modeling—a single
     measure (from 0 to 1) that reflects outcomes of interest to you.”

     “When we have results from any kind of backtest… the first question you have to answer
     is whether results are statistically significant: can you feel comfortable that when you
     trade live you will get similar results?”

     “QC Enterprise… provides you with a statistically sound (scientifically sound means to
     provide significant, predictable, reliable improvements)…”

     “I am absolutely convinced that 20-30 years from now, people will look back on this
     and say ‘well that was easy. That was a no-brainer.’ I think what we’re really doing
     here is taking a series of methods and techniques that have been applied in other
     industries and bringing them to the options trading space and what we have here
     is a tool that allows us to do the tests fast enough and sufficiently enough to
     apply these statistical models and give us the kind of predictive capability that
     has been achieved in other industries.”

     “We want to get this in front of the people because there are a huge number of
     smart people out there. We believe strongly that if we can engage them… if
     they will share with us their views of QC: good, bad, or indifferent… if we
     can learn from them then we will be able to continuously enhance this product.
     The engagement with folks and the learning that we can anticipate from engaging
     with them is invaluable and we appreciate the time and we appreciate people’s
     questions and we appreciate their comments because that’s so important to
     making this product and making the community more successful and I think
     that’s really what we’d like to see. So I want to personally thank everybody
     and say I look forward to the continued dialogue and I’m sure… QC [will] be
     better for it.”

I look forward to learning more about QuantyCarlo!