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Startups wielding sensors and algorithms promise a new era of surveillance.
The trader was in deep trouble. A millennial who had only recently been allowed to set foot on a Wall Street floor, he made bad bets, and in a panic to recoup his losses, he’d blown through risk limits, losing $4.9 million in a single afternoon.
It wasn’t a career-ending day. The trader was taking part in a simulation run by Andrew Lo, an MIT finance professor. The goal : find out if top performers can be identified (...)