I studied a lot of finance in grad school, at world leading elite finance school, and I am a very successful investor myself and can give you sound advice up and down the market and quibble your use of terminology.
I studied a lot of computer science in grad school, at world leading elite CS school, and I am a very successful developer myself and can give you sound advice up and down the dev space and quibble your use of terminology.
An interpreted language has a runtime that is essentially a function “i(script: string)” that immediately follows the instructions encoded in the string.
A compiler is a function “c(script: string) -> byte[]” that instead of running the script, outputs a binary that does the same thing as the interpreter, but more efficiently.
Commonly this means converting the human-readable script syntax to binary machine code that a CPU can run directly, but platforms like Java and .NET actually do this through multiple steps with an intermediate “byte code” that CPUs can’t execute without a lightweight runtime.
The benefit of the JIT is that it makes the compiler code portable to other CPU architectures without having to ship the source code. It is simple enough that interpreting it is just a “while” loop that bumps a pointer, reads the next instruction bytes, and uses a giant switch table to decide what to do.
If you squint at it, machine code is the same, except that the “loop and switch statement” is hard wired into the silicon.
I believe they are saying that computer languages can be implemented by compilers and by interpreters, so "compiled" is technically a property of the implementation, not the language.
But in casual use, "compiled language" means a language that is usually implemented using a compiler.
i'm not being snarky but, if you want to focus on alpha, construct a portfolio that removes beta, and nobody does that except portfolio theory.
so probably "funds that focus on obtaining private information, or flaws in public information"?
focusing on alpha and finding undiscovered alpha are not the same thing, and it's absolutely not clear and contrary to portfolio theory that you would succeed
(sad bear, or dog in lab with goggles meme)
I have no idea what a hedge fund is.