I am not sure this is still the case, but I thought the Prediction company (the commerical off-shoot of the complexity research at Santa Fe) was very successful. If not very successful, then at least successful enough to continue to have UBSWarburg buying their signalsm and a bit of their company.The following is from the Prediction company website:
www.predict.com News and Press Releases2/2001 - Still Expanding!Prediction Company has multiple open positions. See the Employment pages. 3/24/2000 - UBS AG Purchases 24.9% of Prediction Company LLCCompanies also extend exclusive relationshipSANTA FE, New Mexico and STAMFORD, Conn., March 24, 2000 - Warburg Dillon Read and Prediction Company of Santa Fe, New Mexico, today announced the purchase by UBS AG of a 24.9% minority interest in Prediction Company LLC.UBS and Prediction Company have also agreed to extend their contractual relationship, under which Prediction Company LLC is developing technology that is deployed under an exclusive license to UBS AG and its Warburg Dillon Read investment banking division.Prediction Company is a privately held company based in Santa Fe, New Mexico, that was founded in 1991 by Doyne Farmer, Norman Packard, and James McGill to build models for predicting financial markets. The technology developed for this purpose includes substantial research and data infrastructure, along with technology for high-speed trade execution in real time.Norman Packard, President and CEO of Prediction Company LLC stated, "We welcome this investment by UBS. The investment, as well as the continuation of our relationship, will enable our company to realize the potential of its technology in a broad array of markets, with access provided by Warburg Dillon Read's strong global platform."David Zyer, Managing Director of Warburg Dillon Read's Prediction related business area, noted that "This investment further solidifies Warburg Dillon Read’s access to the world-class technology and risk management methods being developed and refined by Prediction’s research scientists and systems engineers. This exclusive relationship also enhances WDR's expertise in the deployment of sophisticated data infrastructure and electronic execution technologies."The relationship between Prediction Company and Warburg Dillon Read began in 1992 as a relationship between Prediction Company and O'Connor and Associates, which was integrated into Swiss Bank Corporation in 1995. In 1998, SBC merged with Union Bank of Switzerland to form UBS AG.Warburg Dillon Read is the investment banking division of UBS AG. In the United States, Warburg Dillon Read’s securities activities are conducted through Warburg Dillon Read LLC, a U.S.-registered broker-dealer. Warburg Dillon Read was created on June 29, 1998, when Swiss Bank Corporation and Union Bank of Switzerland merged to form UBS AG, one of the largest banking groups globally, with more than $1 trillion under management. While Warburg Dillon Read's origins and culture are European, the orientation is truly global, with a strong presence in the Americas and Asia Pacific. Warburg Dillon Read is a market leader in risk management, financial structuring, fixed income issuance and trading, foreign exchange dealing and derivatives, and maintains leading positions in corporate finance and equities throughout Europe, the Americas and Asia Pacific. ###Enquiries:Jim Galvin: +1 212-821-5503, of Warburg Dillon ReadNorman H. Packard 505-984-3123, of Prediction Company Text