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Ed Seykota

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Systems don't need to be changed. The trick is for a trader to develop a system with which he is compatible.
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Source: Schwager, Jack D., Market Wizards, HarperCollins (1989), page 159, ISBN 0-88730-610-1

 
Ed Seykota

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We are not pursuing research to develop ABM space systems. There are studies to improve systems of warning against a missile attack, communications and navigation systems and to develop ground-based ABM defences.

 
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Critical systems thinkers like Gerald Midgley identify three waves of systems thinking over the last 50 years or so. Early systems theorists (e.g. Bertalanffy) described systems in physical terms, resorting to metaphors from electronic computation or biology. This 'hard systems' tradition still has its advocates and practitioners... Subsequently the limits of the physical metaphor... were reached, and the secondwave of systems thinking developed. This 'soft systems thinking' employed social metaphors to develop appropriate systems approaches for human systems. The move to a more phenomenological, interpretative understanding of human systems, where meaning is central and is negotiated intersubjectively, parallels the new paradigm / crisis of social psychology of the 1970s. The Third wave, or critical systems school, in which Midgley locates himself, has drawn on the critical theory of Habermas, particularly in relation to theories of knowledge and of communicative rationality, and on the work of Foucault and followers on the nature of power.

 
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The ideas set forth by organismic biologists during the first half of the twentieth century helped to give birth to a new way of thinking — "systems thinking" — in terms of connectedness, relationships, context. According to the systems view, the essential properties of an organism, or living system, are properties of the whole, which none of the parts have. They arise from the interactions and relationships among the parts. These properties are destroyed when the system is dissected, either physically or theoretically, into isolated elements. Although we can discern individual parts in any system, these parts are not isolated, and the nature of the whole is always different from the mere sum of its parts. The systems view of life is illustrated beautifully and abundantly in the writings of Paul Weiss, who brought systems concepts to the life sciences from his earlier studies of engineering and spent his whole life exploring and advocating a full organismic conception of biology.

 
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The ideas set forth by organismic biologists during the first half of the twentieth century helped to give birth to a new way of thinking — "systems thinking" — in terms of connectedness, relationships, context. According to the systems view, the essential properties of an organism, or living system, are properties of the whole, which none of the parts have. They arise from the interactions and relationships among the parts. These properties are destroyed when the system is dissected, either physically or theoretically, into isolated elements. Although we can discern individual parts in any system, these parts are not isolated, and the nature of the whole is always different from the mere sum of its parts. The systems view of life is illustrated beautifully and abundantly in the writings of Paul Weiss, who brought systems concepts to the life sciences from his earlier studies of engineering and spent his whole life exploring and advocating a full organismic conception of biology.

 
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Prediction of the future is possible only in systems that have stable parameters like celestial mechanics. The only reason why prediction is so successful in celestial mechanics is that the evolution of the solar system has ground to a halt in what is essentially a dynamic equilibrium with stable parameters. Evolutionary systems, however, by their very nature have unstable parameters. They are disequilibrium systems and in such systems our power of prediction, though not zero, is very limited because of the unpredictability of the parameters themselves. If, of course, it were possible to predict the change in the parameters, then there would be other parameters which were unchanged, but the search for ultimately stable parameters in evolutionary systems is futile, for they probably do not exist... Social systems have Heisenberg principles all over the place, for we cannot predict the future without changing it.

 
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