When it comes to behavioral finance, a few people stand out in terms of their contribution

to helping us all understand why and how it works.

The intersection between human behavior and quantitative investing can be difficult to understand

for even the most sophisticated investors.

Today I want to share some really important insights from one of my favorite

professors who's also a practitioner of this discipline, namely Andrew Lowe of MIT's

Sloan School of Management and a director of MIT's Laboratory of Financial Engineering. Many

people know Andrew as the father of the adaptive market hypothesis

and our conversation was wide-ranging, entertaining and deeply insightful. So sit back and relax

and enjoy these truly unique takeaways from my conversation with Professor Andrew Lowe.

And if you would like to listen to the full conversation, and I hope you do,

just go to top traders on plug.com forward slash RT18. That's where the conversation starts.

Now, our conversation today will focus on a number of different topics within the managed

futures industry and perhaps a few that will fall a little bit outside of this.

And so to kick things off in a slightly different way, I want to come to you, Andrew, first,

and ask what you think of when I say Rabbi Mahoney, Rabbi Mahoney, Rabbi Mahoney, and I hope you know

what I'm referring to so that our listeners don't think that I'm completely lost it at this stage.

Yeah, well, thank you for bringing that up. That comes from one of my stories that I've

wrote about in my book, Adaptive Markets.

It's an idea about thinking about financial markets, more like a biological ecosystem

rather than a physical system. As you may know, most economists suffer from this disease that I call

physics envy. We wish we had three laws that

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