How This Hedge Fund Robot Outsmarted Its Human Master

Yoshinori Nomura felt like weeping. It was the morning of June 24, Brexit day, and markets were moving against him. It was the hedge fund manager's self-learning computer program that had placed the bet, selling Japanese stock-index futures before a sizable market advance. Nomura had anticipated a rally, but decided not to interfere, and his fund was paying the price. Then, in an instant, everything changed.