Hoaxster hacker discovers infinite-wealth algorithm

Thursday, 10 April 2003, 2:11 PM EST

Hacker stunt-double and convicted financial fraudster Kim Schmitz (aka Kimble) is up to his old tricks, this time with a package of techno trickery for making a killing in the stock market. To satisfy the dreams of instant fortune common to those who believe in fairy tales, he's devised an "AI-based decision system" for share trading which scientifically "selects the optimal combination of trading strategies for current market conditions".

It's called Trendax, "the money-making machine," and it "uses a complex combination of sophisticated technical analysis, real-time content analysis of news feeds, multi-dimensional statistical analysis and advanced proprietary mathematical techniques," we're told.

If the technobabble alone isn't enough of a clue, we might recall that only last Summer a Munich court rewarded Schmitz with a twenty-month suspended sentence for running a stock manipulation scam called Kimvestor expected to net him something in the range of $1.5 million.

[ Read more ]




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