### Bookmarks for October 4th from 16:26 to 19:34

#### by danhon

This is an auto-posted collection of my public links posted to Pinboard.in for October 4th from 16:26 to 19:34:

- Markets are efficient if and only if P=NP – “I prove that if markets are weak-form efficient, meaning current prices fully reflect all information available in past prices, then P = NP, meaning every computational problem whose solution can be verified in polynomial time can also be solved in polynomial time. I also prove the converse by showing how we can “program” the market to solve NP-complete problems. Since P probably does not equal NP, markets are probably not efficient. Specifically, markets become increasingly inefficient as the time series lengthens or becomes more frequent. An illustration by way of partitioning the excess returns to momentum strategies based on data availability confirms this prediction.”
- Socialist calculation debate – Wikipedia – “The socialist calculation debate (sometimes known as the economic calculation debate) was a discourse on the subject of how a socialist economy would perform economic calculation given the absence of the law of value, money, financial prices for capital goods, and private ownership of the means of production.”
- ‘Red Plenty,’ by Francis Spufford – The New York Times –
- Are Index Funds Communist? – Bloomberg –
- BBC Genome – "There are more than 5 million programme listings in Genome. This is a historical record of the planned output and the BBC services of any given time. It should be viewed in this context and with the understanding that it reflects the attitudes and standards of its time – not those of today."