Andrew W. Lo @AndrewWLo Twitter profile

Last Seen Profiles

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Andrew W. Lo

@AndrewWLo

6 years

If you didn't get into the college you wanted, don't feel bad. College does NOT define you; you're the same amazing person that you were last week, regardless of where you did/didn't get admitted. MUCH more important what you DO at college than which one you go to. Believe in u!

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Andrew W. Lo

@AndrewWLo

8 months

Honored to be included in @veritasium 's latest video on "The Trillion Dollar Equation", and kudos to Derek Muller and his team for making finance both cool and fascinating in a totally accessible and accurate way! Not as easy as he makes it look!!

Veritasium

@veritasium

8 months

The most famous equation in finance, the Black-Scholes/Merton equation, came from physics. It launched an industry worth trillions of dollars

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Andrew W. Lo

@AndrewWLo

6 years

It was AGONIZING for me to choose only five finance books to recommend---here they are: Apologies to the many friends and colleagues who've authored books I love and admire and couldn't include, and thanks @five_books for asking! Love this site!

Five Books: The Best Finance Books, recommended by Andrew W Lo

The best finance books, as recommended by MIT professor and author of 'Adaptive Markets', Andrew W Lo.

fivebooks.com

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Andrew W. Lo

@AndrewWLo

6 years

What do Warren Buffett, Steve Cohen, and HFTs have in common? Very little, you might think, but that's not true! Using spectral analysis, Shomesh Chaudhuri and I show how they have similar skills but just at very different frequencies. Pls see for details.

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Andrew W. Lo

@AndrewWLo

3 years

Can patient advocates be your best investors? Current and future biotech entrepreneurs take note: if your startup is aligned with a venture philanthropist's mission, you can tap into huge pools of money, expertise, and energy. Check out my paper with former student Dan Alvarez!

Malvika Verma Miller, PhD

@hiMalvika

3 years

Congrats to my friend and colleague Dan on his publication out today in @NatureBiotech with Andrew Lo on "Building your startup with venture philanthropy investment." Check it out here:

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Andrew W. Lo

@AndrewWLo

6 years

Third fireside chat of math/investing/philanthropy legend Jim Simons, on his support for fundamental scientific questions like the origin of life, the origin of the universe, and the biology of autism. Great finish to "Math, Money, and Making a Difference"

Dr. James Simons, S. Donald Sussman Fellowship Award Fireside Chat...

S. Donald Sussman Fellowship Award Fireside Chat Series 2018-2019 Award Recipient Dr. James Simons, SB '58 Founder and Chairman, Renaissance Technologies Cha...

www.youtube.com

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Andrew W. Lo

@AndrewWLo

6 years

Does social media affect stock market liquidity? My new paper with Agarwal, Azar, and Singh says yes. Using @Twitter and @StockTwits data, extreme sentiment yields more demand and less supply of liquidity; then, mean reversion and narrower spreads. Pls see

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Andrew W. Lo

@AndrewWLo

7 years

Please see my new paper on an evolutionary model of the Kelly Criterion in investing (warning: heavy math content):

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Andrew W. Lo

@AndrewWLo

6 years

One of the highlights of my professional career is sharing the stage with and interviewing one of the greatest investors of all time, Jim Simons: An inspiration to all quant managers and finance students, both professionally and via his values and conduct.

Dr. James Simons, S. Donald Sussman Fellowship Award Fireside Chat...

S. Donald Sussman Fellowship Award Fireside Chat Series 2018-2019 Award RecipientDr. James Simons, SB '58Founder and Chairman, Renaissance TechnologiesChairm...

www.youtube.com

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Andrew W. Lo

@AndrewWLo

4 years

Super excited to launch my new edX course "Financial Market Dynamics and Human Behavior" on 2/23. It reconciles efficient markets and behavioral finance in a single framework: the adaptive markets hypothesis. Sign up here (free w/o certification):

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Andrew W. Lo

@AndrewWLo

4 years

A double honor for me, to receive the Markowitz special distinction award with my co-authors Alex Remorov and Zied Ben Chaouch, and with the other special distinction award going to Bob Merton and co-author Arun Muralidhar!! I am not worthy!

Finance at MIT

@FinanceatMIT

4 years

Congratulations to #FinanceatMIT Professors Robert C. Merton and @AndrewWLo for their respective 2020 Special Distinction Awards by the Journal of Investment Management (JOIM)

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Andrew W. Lo

@AndrewWLo

6 years

Super excited (and a little scared) to be interviewing Jim Simons, best-performing quant investor in the history of the industry, TODAY at MIT, 4:30-6:00. Last week's topic: math (). Today's topic: money! Come early--this will be standing-room only again!

Dr. James Simons, S. Donald Sussman Fellowship Award Fireside Chat...

S. Donald Sussman Fellowship Award Fireside Chat Series 2018-2019 Award RecipientDr. James Simons, SB '58Founder and Chairman, Renaissance TechnologiesChairm...

www.youtube.com

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Andrew W. Lo

@AndrewWLo

4 years

Pls see my videos on my home studio for online teaching and how I used it to teach healthcare finance in Fall 2020 . Contains ideas for how to go beyond talking-head/Zoom livestream format using OBS and other tools from gamers.

Teaching Healthcare Finance COVID Edition, Fall 2020

This is the second of two videos about my online teaching experience for an MBA-level course on healthcare finance that I taught online during the Fall 2020 ...

www.youtube.com

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Andrew W. Lo

@AndrewWLo

6 years

We lost a giant of modern finance today. John C. Bogle did more to democratize financial markets than any other single individual I can think of. He made investing simple, rational, affordable, accessible. All investors owe him and @Vanguard_Group a huge debt of gratitude. RIP

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Andrew W. Lo

@AndrewWLo

1 year

On May 21, 2013, we held a dinner party to honor our friend and colleague, Svetlana Sussman, at the MIT Sloan School of Management. She was diagnosed with colon cancer and, after exhausting the standard of care and exploring all available treatment options, she decided to enjoy

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Andrew W. Lo

@AndrewWLo

6 years

Really excited and honored that MITx/edX is offering my free online course on healthcare finance, starting Feb 12 (register at ). Better financing means more capital to fund new therapeutics for patients in need. Please spread the word. Thanks!

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Andrew W. Lo

@AndrewWLo

1 year

One of the founders of modern finance, Harry Markowitz completely changed Wall Street and brought the power of portfolio thinking to Main Street. I'm still benefiting from his ideas today, especially as they apply to biomedical innovation! RIP

Harry Markowitz, Nobel-Winning Pioneer of Modern Portfolio Theory, Dies at 95 (Published 2023)

He overturned the traditional approach to buying stocks by examining the relationship between risk and reward.

www.nytimes.com

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Andrew W. Lo

@AndrewWLo

4 years

From 1994 to 2017, MIT tech licensees developed 281 drug candidates via 33 public companies, leading to 51 FDA-approved products. This is an AMAZING biotech innovation hub, despite no med school! More details in our paper in @NatureBiotech just out today:

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Andrew W. Lo

@AndrewWLo

6 years

I had the great privilege of interviewing Jack Bogle last year for my forthcoming book THE PERFECT PORTFOLIO co-authored with Steve Foerster. You bet I was a nervous wreck! Mr. Bogle was a gentleman and a scholar. In every possible sense of those words:

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Andrew W. Lo

@AndrewWLo

5 years

My response to @manoliskellis #TakeYourShots challenge. Spread the word about #VaccinesSaveLives , and drink a shot of 1 lemon. Nominate at least 5 others. I nominate @stevenstrogatz , @erikbryn , @Lin_Manuel (not throwin away my shot!), Harvey Lodish, and Bob Merton.

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Andrew W. Lo

@AndrewWLo

6 years

Pls see my new pub on hedge funds and mkt efficiency using holdings data . Good news: hedge funds make markets more efficient. Bad news: they withdraw liquidity rapidly during financial distress which can worsen market turmoil. No surprise, they adapt...

Hedge Fund Holdings and Stock Market Efficiency

Abstract. We study the relation between hedge fund equity holdings and measures of informational efficiency of stock prices derived from intraday transacti

academic.oup.com

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Andrew W. Lo

@AndrewWLo

7 years

My book #AdaptiveMarkets is finally out Thanks to @PrincetonUPress for publishing it and I hope you all like it!

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Andrew W. Lo

@AndrewWLo

6 years

How does a brilliant multi-billionaire mathematician spend his money? Come hear for yourself from Jim Simons' final fireside chat at @MITSloan today from 4:30-6:00pm. His greatest legacy may well be his philanthropy, which says a lot given his amazing legacies in math and finance

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Andrew W. Lo

@AndrewWLo

1 year

Excited to welcome Nobel-prize-winning economist Myron Scholes to MIT today at 4:00pm ET to deliver his S. Donald Sussman Fellowship Lecture, then fireside chat with PBS reporter @paulsolman . Register here to attend in person:

S. Donald Sussman Fellowship Award | Finance | MIT Sloan

S. Donald Sussman Fellowship Award information

mitsloan.mit.edu

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Andrew W. Lo

@AndrewWLo

6 years

Super proud of my son @derek_t_lo whose #edtech startup Py was just acquired! When I was 23 years old, I barely knew what a company was, never mind having launched one, getting several hundred thousand users, becoming profitable, and getting @hired_HQ !

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Andrew W. Lo

@AndrewWLo

1 year

Super proud of my son Wesley who asked me to purchase him a "music library" last year; a few months later, he composed a short piece of music for an orchestra. His WPI music prof was so impressed, he asked their orchestra to perform it! Wesley's debut:

WPI Philharmonic Orchestra - Four Winters March (Wesley Lo)

Four Winters March, composed by student composer Wesley Lo, performed by the WPI Philharmonic Orchestra.

www.youtube.com

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Andrew W. Lo

@AndrewWLo

5 years

Please join my @mit_ilp webinar on the financial implications of COVID-19, this Monday at 11:00am. Nothing profound (especially on such short notice); just my take on current market gyrations and how to think about them from a finance perspective .

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Andrew W. Lo

@AndrewWLo

6 years

What an extraordinary achievement of mathematics, science, and engineering, and a testament to one of the most important evolutionary traits of any species: curiosity. Congratulations Homo sapiens!

The New York Times

@nytimes

6 years

See how a planet-size network of radio telescopes assembled the first image of a supermassive black hole

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Andrew W. Lo

@AndrewWLo

6 years

Smart beta just got smarter! Pls see my paper at SSRN on frequency-specific risk mgmt and CAPM using spectral analysis . Betas vary quite a bit across frequencies, creating even greater opportunity for diversification and risk reduction.

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Andrew W. Lo

@AndrewWLo

5 years

Brilliant idea for economic recovery: let those immune to #COVID19 go back to work Blood test for immunity is critical; and it's just been developed! Instead of bailouts, let's use funds to scale this up. If ur healthy, OK to work!

Rapidly identifying workers who are immune to COVID-19 and virus-free is a priority for restarting...

The first phase of the economic response to the COVID-19 pandemic is already under way with measures that, while costly, are relatively ‘easy’. The second phase – restarting the economy – involves...

cepr.org

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Andrew W. Lo

@AndrewWLo

5 years

Thrilled that my book ADAPTIVE MARKETS is now out in paperback! Corrected typos and added an afterward on technology, AI, social media, and how the AMH applies to events since publication. There's reason for backlash against perceived elitism of academia; we need to listen/learn!

Princeton University Press @princetonupress.bsky.s

@PrincetonUPress

5 years

. @AndrewWLo 's Adaptive Markets, out today in #paperback , is "dazzling in both its erudition and its charm." @johnauthers @JosefusK @FT @FinancialTimes

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Andrew W. Lo

@AndrewWLo

5 years

If you've never attended a lecture of Patrick Winston's, you're in for a real treat. He's as inspiring a teacher as he is a researcher, and I would urge anyone who cares about the craft of teaching to watch this maestro at work and learn from his example.

MIT CSAIL

@MIT_CSAIL

5 years

RIP to professor Patrick Winston, one of MIT's most celebrated teachers. Here are his complete video lectures for 6.034 (Artificial Intelligence), which have been watched nearly 5 million times:

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Andrew W. Lo

@AndrewWLo

3 years

Honored to be in the company of amazing online educators and never expected to even be under consideration for this prize! Thanks to all our learners for participating in our course and inspiring us to put more content online. 🙏

MIT Open Learning

@mitopenlearning

3 years

2 @MITxCourses are 2021 @edXOnline Prize Finalists for Innovation in Online Teaching! Congrats to @jonathangruber1 ( @MITEcon ), @AndrewWLo ( @MITSloan ), Harvey Lodish ( @MITBiology ), Zied Ben Chaouch, and Shomesh Chaudhuri ( @MITEECS ) for your impact.

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Andrew W. Lo

@AndrewWLo

5 years

Thanks to all who joined my webinar today. Apologies for some tech glitches; my first time using this platform. I couldn't see the time, ran long, and had to cut several important points. Will try to find another opportunity to reshoot this presentation, but let me at least list

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Andrew W. Lo

@AndrewWLo

4 years

Honored to be interviewed in @AnnualReviews terrific magazine @KnowableMag about making sense of the stock market during this pandemic. Bottom line: we're not in a financial crisis---we're in a public health crisis with financial consequences. Big diff!

Pandemic economics: The economy of fear

knowablemagazine.org

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Andrew W. Lo

@AndrewWLo

5 years

Rarely does one get a chance to give a 45-min talk about one's role model and mentor; I had that privilege earlier this month at Bob Merton's 75th birthday celebration. My talk: "Robert C. Merton: The First Financial Engineer". Thanks, Bob, for my career!

Symposium in Honor of Robert C. Merton - Day 2: Andrew Lo

Robert C. Merton: The First Financial Engineer by Andrew Lo (MIT). Symposium in Honor of Robert C. Merton, PhD ’70August 5-6, 2019MIT Sloan School of Managem...

www.youtube.com

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Andrew W. Lo

@AndrewWLo

7 years

Never been prouder to be considered recommended reading for wonks; here's to nerding out over the holidays! Thank you, @andrewrsorkin , for including me in such elite company.

NYT Business

@nytimesbusiness

7 years

As I do every year, I pored over dozens of books to identify several gems, writes @andrewrsorkin

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Andrew W. Lo

@AndrewWLo

5 years

Honored to be giving a public lecture tomorrow 6:00pm at @UCBerkeley 's @SimonsInstitute on "Artificial Stupidity: The New AI and the Future of Fintech"; hope to see you there!

Theoretically Speaking — Artificial Stupidity: The New AI and the Future of Fintech

Financial AI seems so close, yet so far. We have automated trading algorithms, machine-learning models of credit risk, electronic exchanges, robo advisors, and cryptocurrencies, but machines still...

simons.berkeley.edu

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Andrew W. Lo

@AndrewWLo

7 years

Excited to announce my latest publication with Brennan and Zhang on how adaptation to changing environments can be misinterpreted as irrational behavior; this is part of a series of papers formalizing the Adaptive Markets Hypothesis (please see for more).

World Scientific

@worldscientific

7 years

New on Quarterly #Journal of #Finance "Variety Is the Spice of Life: Irrational Behavior as Adaptation to Stochastic Environments" by Thomas Brennan @Harvard_law , @AndrewWLo & Ruixun Zhang @mitlfe #behavioralfinance #adaptivemarkets

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Andrew W. Lo

@AndrewWLo

6 years

WOW! This is not your parents' FDA! Big data, machine learning, data-sharing, and new technology being actively encouraged and implemented at one of the most important regulatory agencies in our government. Kudos to Sean Khozin for leading INFORMED!! SEC, CFTC, FDIC take note...

Sean Khozin, MD, MPH

@SeanKhozin

6 years

. @FDAOncology INFORMED supported abstracts at #ASC018 More about the INFORMED Program:

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Andrew W. Lo

@AndrewWLo

4 years

Honored to have an article in first issue of Journal of Systematic Investing with former student Alex Remorov. Someone once said this paper's about "artificial stupidity"; we prefer the term "artificial humanity". We model interactions between multiple investor heuristics .

EQDerivatives

@EQDerivatives

4 years

Journal of Systematic Investing (JSI) exclusive paper: Andrew Lo & Alex Remorov, propose a heuristic approach to modeling investor behavior by simulating combinations of simpler systematic investment strategies associated with well-known behavioral biases.

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Andrew W. Lo

@AndrewWLo

4 years

Machine learning and AI are changing the way we develop drugs and devices, and attracting new talent to healthcare. For more, pls check out my @CFAinstitute @Take15_Podcast podcast.

Enterprising Investor: Machine Learning Applications: What We Can...

Andrew Lo discusses his various fields of expertise and research with Anastasia Diakaki. Professor Lo's most recent work in healthcare finance, more timely than ever, serves as the starting point for...

take15audio.libsyn.com

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Andrew W. Lo

@AndrewWLo

5 years

Thanks for your kind words---you're one of very few viewers who commented that these lectures were taped DURING the Financial Crisis! Every weekend, something huge would happen that we'd have to discuss in class on Mondays (Lehman, AIG, BAC, etc.). Super exciting and stressful!

MBA candidates

@mbacandidates

5 years

@AndrewWLo Enjoying your course on Finance for MBA’s on @youtube ’s @MITOCW channel, as a preparation for my upcoming class at @IsenbergUMass . Thx 4 the clear insights, funny jokes and (now historical) context. Can’t believe that was shot right at the onset of the crisis. #bravo

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Andrew W. Lo

@AndrewWLo

6 years

Super excited to be welcoming living legend of math/finance/philanthropy Dr. James Simons to MIT Sloan today for the S. Donald Sussman Fellowship Award Fireside Chat from, 4:30–6:00pm in Wong Auditorium (MIT Building E51). You do not want to miss this rare opportunity!!!

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Andrew W. Lo

@AndrewWLo

6 years

Really honored to be part of the @MIT Schwarzman College of Computing launch earlier this week! This will transform computing in many fields. So privileged to be at MIT, I feel like a hungry kid in world's biggest candy factory. Talks can be viewed here

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Andrew W. Lo

@AndrewWLo

7 years

Busy waitress commits random act of kindness by helping elderly customer cut his ham, gets rewarded with $16K college scholarship crowd-funded through social media when another diner posts photo. Don't give up on humanity just yet!

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Andrew W. Lo

@AndrewWLo

7 years

Incredibly honored to be included on the FT @McKinsey #BBYA17 shortlist, especially given the other wonderful books chosen and considered!

Financial Times Live

@ftlive

7 years

@AndrewWLo Congratulations, you've made the FT & @McKinsey #BBYA17 shortlist with your book 'Adaptive Markets'.

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Andrew W. Lo

@AndrewWLo

5 years

Super proud of my brother Martin, a real rocket scientist, for Brouwer award for “seminal contributions in nonlinear astrodynamics and dynamical astronomy and the using of dynamical systems theory and low energy trajectories to space mission design.”

Winners of 2018 American Astronautical Society Awards Announced | American Astronautical Society

Winners are being recognized for significant achievements across the full spectrum of space science and exploration. The American Astronautical Society (AAS) is pleased to announce the winners of its...

astronautical.org

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Andrew W. Lo

@AndrewWLo

2 years

Happy 50th birthday to Malkiel's "Random Walk Down Wall Street", still the single best book on investing, and what I recommend when asked by non-finance readers! For active traders, this book may not satisfy, but 95% of investors can't--and aren't trying to--beat the market.

WSJ Markets

@WSJmarkets

2 years

Burton Malkiel, at 90, says index investing still beats other approaches. But he buys individual stocks, too, for “fun”

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Andrew W. Lo

@AndrewWLo

3 years

Pls check out our new Special Feature in @PNASNews published today. We explore the complex dynamics of the #finance and #realestate sectors by integrating #ecology , #evolutionarybiology , and #economic theory, providing insight into today's #economy . #EconTwitter Let's discuss!

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Andrew W. Lo

@AndrewWLo

6 years

I realize that @Lin_Manuel was writing more generally in this wonderful tweet, but as a teacher, I have to say that this is the best advice I've ever read for students heading back to school in a couple of weeks. To all students and faculty around the world, have a great term!

Lin-Manuel Miranda

@Lin_Manuel

6 years

Gmorning. Bring every bit of yourself into the room. What you've got from the family you're from, What you've got from the families you've chosen. Your willingness to listen, your longing to be heard. Your courage, your vulnerability. The best of you, all of you, let's go

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Andrew W. Lo

@AndrewWLo

6 years

I'm so honored to be interviewing Jim Simons next Wednesday, 4:30-6:00pm at @MITSloan about his finance career. Rentec's track record is insane, and the story of how Simons did it is fascinating! Likely to be standing-room only so register now for a seat:

S. Donald Sussman Fellowship Award Fireside Chat 2: Finance

Join us for a fireside chat with Dr. James Simons (SB '58) and Andrew Lo, Professor of Finance, MIT Sloan. This is the second installment of the S. Donald Sussman Award Fireside chat by Dr. James...

calendar.mit.edu

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Andrew W. Lo

@AndrewWLo

3 years

Super excited and honored to be part of this amazing in-person gathering of investment talent. Please join us for a fascinating evening of discussion and debate on the pursuit of the Perfect Portfolio!

MIT Sloan Alumni

@MITSloanAlumni

3 years

Join us in NYC on April 14 for a gathering of the minds hosted by Prof. @AndrewWLo . Finance luminaries who have shaped modern finance will share insights that can help investors today. Register today:

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Andrew W. Lo

@AndrewWLo

3 years

Does impact investing always mean giving up risk-adjusted returns? Not necessarily! Co-author Ruixun Zhang and I propose a new framework for quantifying the impact of impact investing, showing when such portfolios will underperform or outperform and why.

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Andrew W. Lo

@AndrewWLo

6 years

Somewhere, Jack Bogle is smiling down upon you, @cliffordasness ! 😇

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Andrew W. Lo

@AndrewWLo

7 years

Pls see my new pub on risk and reward in biotech and pharma (); like an enzyme and substrate, one industry is catalyst for the other, both are critical. Better financing and business models can lower costs and bring therapies to patients faster and cheaper.

Just how good an investment is the biopharmaceutical sector?

Nature Biotechnology - An analysis of biotech and pharma stock prices since 1930 reveals sharp differences in the risk-adjusted returns of the two sectors.

www.nature.com

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Andrew W. Lo

@AndrewWLo

5 years

Pls see my new paper on the challenges of financing vaccines portfolio and why govt intervention is necessary But with the right public policies (AMCs, subscription models, etc.) and business model, we can be ready for future pandemics.

Financing Vaccines for Global Health Security

Recent outbreaks of infectious pathogens such as Zika, Ebola, and COVID-19 have underscored the need for the dependable availability of vaccines against emerging infectious diseases (EIDs). The cost...

www.medrxiv.org

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Andrew W. Lo

@AndrewWLo

6 years

Congrats to Dr. James Simons, this year's Sussman Fellowship winner and congrats to us at MIT that he graciously accepted and will be delivering three lectures on his amazing work in math, finance, and philanthropy! Will post registration details soon.

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Andrew W. Lo

@AndrewWLo

6 years

Parents, our kids need extra love and support this week as they hear from colleges. Tough enough being a teen--what they endure in the application process is worse. They'll do great as long as they believe in themselves; be happy for them, regardless of what college they pick!

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Andrew W. Lo

@AndrewWLo

7 years

I LOVE FRED and use it all the time for both research and teaching. THANK YOU St. Louis Fed for creating and maintaining one of the best macrofinancial databases on the internet, and totally free and so simple to use!

St. Louis Fed

@stlouisfed

7 years

Have you met FRED? Listen to our Timely Topics podcast for an introduction to the signature economic database of the St. Louis Fed

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Andrew W. Lo

@AndrewWLo

5 years

Kudos to Mr. Smith for paying off student loans of Morehouse 2019 grads!! This act of kindess could be infectious! Economists take note: natural experiment to see how this class performs compared to 2018 and 2020, to measure the impact of debt on productivity, health, etc.

The New York Times

@nytimes

5 years

“My family is going to create a grant to eliminate your student loans,” the billionaire Robert F. Smith said, pledging to eliminate the student loan debt of the 2019 Morehouse College graduating class. “This is my class."

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Andrew W. Lo

@AndrewWLo

7 years

Super proud of my son the young tech entrepreneur! His free app "Py" ( @downloadpy ) makes coding fun, and his company has created a unique business model out of it. Didn't know that "ed tech" was a thing until now. Thank you @ycombinator for making his startup dream come true.

Derek Lo

@derek_t_lo

7 years

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Andrew W. Lo

@AndrewWLo

7 years

Really excited to be speaking at the @FinanceMuseum in NYC---what could be more fitting than talking about Adaptive Markets on Wall Street where financial evolution now occurs at the speed of light?! Hope to see you there.

MoAF

@FinanceMuseum

7 years

Join us on January 24th at 5:30pm for @MITSloan professor @AndrewWLo on "Adaptive Markets: Financial Evolution at the Speed of Thought." Tickets and more information available at:

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Andrew W. Lo

@AndrewWLo

5 years

Excited by @BillionToOneInc announcement of cheap, accurate test of #COVID19 that scales to 1M tests PER DAY! Proud to be an investor in this @ycombinator alum. Now we need a systematic randomized testing strategy to get more accurate data; stay tuned...

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Andrew W. Lo

@AndrewWLo

5 years

Important new paper by my colleague @EmilVerner et al on lessons from 1918 flu. Comparing across states and cities, more aggressive public policies reduce mortality, increase speed and size of post-crisis recovery. State&local govt officials, pls read!

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Andrew W. Lo

@AndrewWLo

7 years

Excited to announce that my TEDxCambridge Salon video, "Hacking Humanity" is now available ; it's my take on how to deal with technology's unavoidable unintended consequences (start developing better technology for managing human behavior).

Hacking Humanity | Andrew Lo | TEDxCambridgeSalon

Technological advances are now happening exponentially fast, but Homo sapiens is pretty much the same species as we were 60,000 years ago. Andrew Lo, Profess...

www.youtube.com

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Andrew W. Lo

@AndrewWLo

7 years

Pls see our new pub on estimating success rates for clinical trials using big data; over 185K unique clinical trials of more than 21K compounds (). Better risk analytics mean more informed investors, more R&D $$$, and better therapies to patients sooner.

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Andrew W. Lo

@AndrewWLo

4 years

My online teaching guide with Brian Stevens and Sean Willems is now available at . For colleagues struggling with online teaching, we feel your pain! Paper contains our home studio setups with links to our videos and other resources to save you time and 🤬

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Andrew W. Lo

@AndrewWLo

6 years

Yanny v. Laurel explained . This fascinating oddity contains a deeper truth: two people can perceive the exact same set of "facts" differently. This is why the scientific method is so critical to progress--it's the best way of establishing "facts" as facts.

Featured video: The neuroscience behind "Yanny" vs. "Laurel"

MIT neuroscientists Dana Boebinger and Kevin Sitek explain why some people hear "Yanny" and others hear "Laurel" in the audio equivalent of "The Dress" that has taken the world by storm.

news.mit.edu

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Andrew W. Lo

@AndrewWLo

6 years

Congratulations to @RecursionPharma and @RecursionChris for this impressive achievement! Minsky, father of AI, said "I don't want to build a computer I can be proud of; I want to build a computer that can be proud of me." How about "...a computer that can save me."? Almost there!

Recursion

@RecursionPharma

6 years

We're thrilled to announce another big pipeline milestone today. @RecursionPharma has in-licensed a clinical-stage molecule discovered using our AI-platform: REC-2282 for Neurofibromatosis type 2!

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Andrew W. Lo

@AndrewWLo

3 years

As we begin to unmask and re-open in the wake of COVID-19's conclusion, let's not lose our resolve to do what's necessary to prepare for future pandemics. We need a global investment fund to create/stockpile vaccines. "Crisis is a terrible thing to waste."

Ep. 10: Valuing Vaccines: Ensuring Economic Health & Security for All

Given all that the world has lost to COVID-19, it’s hard to ignore the importance of preventing infectious diseases—yet if history repeats itself, that is ex...

www.youtube.com

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Andrew W. Lo

@AndrewWLo

3 years

Experimental evidence just published in with co-authors Marlowe and Zhang that human probability matching behavior is explained by Brennan and Lo's (2011) "Origin of Behavior" framework . Apparently there *is* method to our madness!

The Quarterly Journal of Finance

QJF publishes high-quality papers in all areas of finance, including corporate finance, asset pricing, financial econometrics, international finance, and macro-finance.

www.worldscientific.com

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Andrew W. Lo

@AndrewWLo

3 years

The original intent of the #DebtCeiling was sensible--make sure we don't spend beyond our means. But it's being used as extortion by politicians. We should make a simple change: if Congress can't agree on new #DebtCeiling , their pay is suspended until they *can* agree. 1/2

Erik Brynjolfsson

@erikbryn

3 years

Congress should eliminate the debt ceiling once and for all.

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Andrew W. Lo

@AndrewWLo

7 years

The video and slides for my #AdaptiveMarkets webinar are now available at . Thanks for viewing!

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Andrew W. Lo

@AndrewWLo

6 years

MIT Laboratory for Financial Engineering and Informa Pharma Intelligence Launch Analytics Initiative for Life Scie...

MIT Laboratory for Financial Engineering and Informa Pharma Intelligence Launch Analytics Initiat...

/PRNewswire/ -- Today, the MIT Laboratory for Financial Engineering (LFE) and Informa Pharma Intelligence announced Project ALPHA (Analytics for Life-sciences...

www.prnewswire.com

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Andrew W. Lo

@AndrewWLo

3 years

The investment world and @Yale lost a giant! Over 35 years, David Swensen and his team added $36B in excess returns. Could have started his own fund, but loved Yale and made only one request of his alma mater: he wanted to teach a course!! Wish I could have taken it... RIP

John Authers

@johnauthers

3 years

RIP David Swensen. By far the most influential asset allocator of the last several decades. This is the first feature I wrote about him, from the FT in 2007. A great investor with a centuries-long horizon via @financialtimes

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Andrew W. Lo

@AndrewWLo

5 years

Honored to have spoken at 2019 @AmazonreMARS on how machine learning predictions of clinical trials outcomes using @Citeline database can reduce the cost of capital for drug development. In case you're on vacation and finished watching #PeakyBlinders ,

Can Financial Engineering and Data Science Cure Cancer? by Andrew W....

Innovation Spotlight presentation at Amazon re:MARS, filmed on June 6, 2019 at ARIA Resort & Casino in Las Vegas, NV.Andrew W. Lo is the Charles E. and Susan...

www.youtube.com

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Andrew W. Lo

@AndrewWLo

5 years

For my academic colleagues who, like me, are stressing out about teaching online---a little levity to relieve some of the angst: . Thank you, Crystal and Carrie, for making us laugh in the midst of these difficult times, and kudos, Michael Bruening!

I Will Survive, Coronavirus version for teachers going online

null

www.youtube.com

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Andrew W. Lo

@AndrewWLo

3 years

I’ll be discussing my new book “In Pursuit of the #PerfectPortfolio ” during a #TwitterChat on October 6 at 2:30 p.m. ET with tech guru and former @MITSloan faculty @erikbryn . Ask us your questions then using #PerfectPortfolio ! Please join us.

Twitter Chat: Andrew Lo’s 'In Pursuit of the Perfect Portfolio' with Erik Brynjolfsson | MIT Sloan

MIT Sloan’s Andrew Lo discusses his book, "In Pursuit of the Perfect Portfolio," with Stanford Univ. professor and internationally-recognized expert on the intersection of business and tech, Erik...

mitsloan.mit.edu

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Andrew W. Lo

@AndrewWLo

1 year

Honored to be interviewing General David H. Petraeus tomorrow at 6pmET. Can't think of a more informed expert on today's geopolitical issues and how we should navigate through these challenging times. Registration information below, and I look forward to seeing you online!

MIT Sloan Club of New York

@mit_sloan_nyc

1 year

So Honored: On May 1st, Join General David H. Petraeus, US Army (Ret.) & Dr. @AndrewWLo in a fireside chat as they discuss "Leadership during Conflict" Register Here: … #mitsloan #leadership #kkr #andrewlo #generaldavidpetraeus

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Andrew W. Lo

@AndrewWLo

5 years

We're currently NOT prepared for pandemics, despite valiant efforts of @CEPIvaccines and @WHO , because of poor incentives for biopharma to develop/stockpile vaccines vs. chronic therapies. We need better business models and new public/private partnerships before it's too late.

Nature Portfolio

@NaturePortfolio

5 years

Scientists across the world are working together to fight the novel coronavirus. Nature looks at three fields of research that are vital to keeping this outbreak under control: epidemiology, virology and biomedical science. Read the latest on the outbreak:

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Andrew W. Lo

@AndrewWLo

3 years

Few people have led lives as consequential as E.O. Wilson. Beyond his scientific contributions, he inspired so many academics, including me. I found his own struggles with academic politics especially instructive and comforting (Ch 12 of NATURALIST ) RIP

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Andrew W. Lo

@AndrewWLo

6 years

Actually, if more people had paid attention to the models and risk evaluations at the time, they wouldn't have gotten into as much trouble as they did. But you have a point about crisis books; here are 21 that I'd recommend:

Matt Usselmann

@rad_econ

6 years

@AndrewWLo @five_books What a surprise - a finance prof picks five books - none of which deal which the biggest failure of finance. He is still in awe of models and risk evaluations which should have bankrupted the entire finance sector in 2008 when they did not work - had it not been for gov. rescues

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Andrew W. Lo

@AndrewWLo

7 years

The highest compliment an author could possibly hope to receive (not photoshopped, I promise)! Thank you Doug D for sharing with me!!!

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Andrew W. Lo

@AndrewWLo

5 years

We lost one of the founding fathers of #AI today. Patrick Winston was world-class scholar and educator, and an inspiration to all of us at MIT. He taught us so much about the workings of the artificial, but in the end, it is his humanity, stories, grace that we will miss most.

MIT CSAIL

@MIT_CSAIL

5 years

We're saddened to report that Professor Patrick Winston, who directed MIT's AI lab for 25 years, died today. Since being a PhD student of Minsky in 1965 he taught thousands of students and did pioneering work on AI that can tell and understand stories:

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Andrew W. Lo

@AndrewWLo

4 years

Congrats @BridgeBioPharma for first FDA approval (for rare genetic condition causing irreversible neurological damage in infants and kids)! Huge milestone for this once-tiny startup with crazy idea to invest in *many* genetic disorders ignored by others

Treatment of MoCD Type A | FDA Acceptance | BridgeBio

BridgeBio and Origin Biosciences today announced the FDA has accepted its NDA for fosdenopterin. It is being developed for the treatment of MoCD Type A.

bridgebio.com

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Andrew W. Lo

@AndrewWLo

6 years

Really excited and honored to be speaking Tues 10/9 at #ACoP9 on "p-values vs. Patient Values: An Analytic Perspective." Why so excited?! Because I just figured out that #Pharmacometrics is to the #pharma industry what #quantfinance is to the #finance industry!

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Andrew W. Lo

@AndrewWLo

3 years

My tribute to the 75th anniversary of the #FinancialAnalystsJournal , a retrospective of 75 years of the financial system through the lens of adaptive markets: ; kind of like the finance geek's version of Don McLean's song "American Pie"...

The Financial System Red in Tooth and Claw: 75 Years of Co-Evolving Markets and Technology

The 75th anniversary of the founding of the Financial Analysts Journal offers a rare vista of the evolutionary path of financial analysis and its practitioners. That path is by no means random but ...

www.tandfonline.com

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Andrew W. Lo

@AndrewWLo

5 years

Super important paper on how drugs are made, by former dean of @harvardmed so he should know! @ncats provides even more detailed map of the ecosystem involved at . One more group to add: philanthropists and patient advocates, like @gates & @CF_Foundation .

Jeffrey Flier

@jflier

5 years

How should we allocate credit for discovery and development of new therapies between the academy and industry? Lots of people are confused. My new viewpoint in @jci explains.

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Andrew W. Lo

@AndrewWLo

4 years

Pls check out the inaugural issue of the Journal of Systematic Investing--honored to be included, but many other cool articles on quant strategies and risk management tools!

EQDerivatives

@EQDerivatives

4 years

Available Now: the inaugural issue of the Journal of Systematic Investing (JSI) now at . This issue features articles on modeling investor behavior, tail risk hedging, performance, timing and more. #SystematicallyEvolving #quant #JSI #systematicinvesting

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Andrew W. Lo

@AndrewWLo

6 years

Exciting medical breakthroughs are on the way in the form of gene therapies---onetime treatments that repair defective genes, CURING patients once and for all (or so we hope). However, we need to be as innovative on how we pay for these therapies so as to provide access to all.

The New York Times

@nytimes

6 years

For decades, there was little progress against sickle cell, a disease that strikes mostly minorities. But experimental treatments using gene therapy and gene editing have made some patients' symptoms vanish.

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Andrew W. Lo

@AndrewWLo

6 years

My op-ed with neuroscientist Ken Kosik on how California can lead the way to develop new therapies for Alzheimer's. It has the scientific, medical, and financial resources to create a California Alzheimer's Solutions And Data Exchange (CASCADE) initiative!

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Andrew W. Lo

@AndrewWLo

2 years

I'm discussing “🧬 Gene Fixers 🛠: Rare Disease Fund model” with @eperlste , Julia Vitarello, Casey McPherson, Sunitha Malepati, Neil Kumar, and The Gene Fixers. Today, Jul 7 at 3:00 PM EDT in @clubhouse . Join us!

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Andrew W. Lo

@AndrewWLo

5 years

Important summary report of the Shanghai approach to managing #COVID19 : (in Chinese but with English subtitles). Striking results after they started using #Hydroxychloroquine , allowing them to stop using other meds. Please pass on to ER staff.

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Andrew W. Lo

@AndrewWLo

4 years

My article on "Robert C. Merton: The First Financial Engineer" just came out in @AnnualReviews ; it's an edited version of my talk at Bob's 75th birthday celebration last year . Happy Birthday Bob!

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Andrew W. Lo

@AndrewWLo

6 years

Hear how world-class mathematician and multi-billionaire Jim Simons has reshaped philanthropy for fundamental science--planting so many seeds for future STEM breakthroughs--at final 😭fireside chat @MITSloan on Wednesday 3/13 from 4:30-6:00. Register at

S. Donald Sussman Fellowship Award Fireside Chat 3: Philanthropy

Join us for a fireside chat with Dr. .James Simons (SB '58) and Michael Sipser, Dean of School of Science, and Donner Professor of Mathematics. This is the third and last installment of the S. Donald...

calendar.mit.edu

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Andrew W. Lo

@AndrewWLo

5 years

Thrilled that my article on #machinelearning predictions of clinical trial outcomes is in the 1st issue of the HARVARD DATA SCIENCE REVIEW, a cool new forum for #DataScience and #ArtificialIntelligence research, practice, and policy. Read now for #free at

Harvard Data Science Review

hdsr.mitpress.mit.edu

Health Policy Data Science Lab

@HPDSLab

5 years

Inaugural issue of the new @mitpress journal “Harvard Data Science Review” is out!

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Andrew W. Lo

@AndrewWLo

5 years

I have a slightly different algorithm. Tell your class that it would make it easier for everyone if you just gave them all a B, and ask all those who object to raise their hands. The students with raised hands get an A. Instant non-degenerate grade distribution!

Steven Strogatz

@stevenstrogatz

5 years

"I don't want to give any grades... The whole system of grades, exams, the idea of the necessity of being tested seems to me to be antithetical to teaching." – Richard Lewontin, Harvard population geneticist,1975. His solution: Give everyone a B.

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Andrew W. Lo

@AndrewWLo

6 years

Please join my finance faculty colleagues at @MITSloanAlumni NYC conference on Apr 25 about the impact of the Financial Crisis and the future of finance. Speakers include Merton, Schoar, Kogan, and distinguished alums. Register at to confirm a seat!

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Andrew W. Lo

@AndrewWLo

5 years

Congrats to Neil Kumar and the entire team at $BBIO and their subs for successful IPO! Great for investors, but even better for patients with rare genetic diseases. Starting with mostly preclinical assets, $BBIO now has 4 in Phase 3! Portfolio theory works, even in biotech.

John Carroll

@JohnCendpts

5 years

Kinda nutty --$BBIO prices year's biggest biotech IPO at $17, opens at $30, wavers, now up 55%

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