Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
1998-08-18
2001-02-13
Trammell, James P. (Department: 2764)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S014270, C705S035000, C705S03600T, C705S037000
Reexamination Certificate
active
06188992
ABSTRACT:
BACKGROUND OF THE INVENTION
Without limiting the scope of the present invention, this background of the present invention is described in connection with adaptively managing investments. The present invention, however, is not limited to the management of equity investments, such as stocks, and is applicable to the management of any type of investment that can be characterized by a series of measurable parameters.
Most computerized investment management systems select one or more specific investments and manage those investments based on quantifiable market conditions and trends. With the advent of computers and modern telecommunications, the amount of information that is available about a specific investment and the market as a whole at any given time is enormous. Accordingly, most investment management systems monitor and use only a selected portion of the available information to make investment decisions. For example, the change in an economic or market index, such as the Dow Jones Industrial Average or the Standard & Poors 500, may trigger an investment management system to automatically sell a certain percentage of its holdings. Moreover, the information monitored and the decisions based on that information are typically fixed within the investment management system. As a result, these systems only react to the market. And the information monitored or the decisions based on that information does not adapt to changes in the market, except through “human intervention.”
SUMMARY OF THE INVENTION
Other features and advantages of the present invention shall be apparent to those of ordinary skill in the art upon reference to the following detailed description taken in conjunction with the accompanying drawings.
The present invention provides a method for managing investments having one or more characteristics. The present invention creates three or more investment agents, each investment agent having one or more characteristics, and selects an investment for each investment agent by comparing the investment agent's one or more characteristics to the investment's one or more characteristics. The selected investment for each investment agent is then acquired if the selected investment is not currently owned by the investment agent. After a period of time has elapsed, the selected investments are managed by: evaluating the performance of each investment agents; eliminating each investment agent whose performance is less than a specified performance level; and creating one or more new investment agents, each new investment agent having one or more characteristics derived from two or more of the investment agents whose performance is equal to or greater than the specified performance level.
The present invention also provides a computer program embodied on a computer-readable medium for managing three or more investments wherein each investment has one or more characteristics. The computer program has a code segment for creating three or more investment agents, each investment agent having one or more characteristics, and a code segment for selecting an investment for each investment agent by comparing the investment agent's one or more characteristics to the investment's one or more characteristics. The computer program also has a code segment for acquiring the selected investment for each investment agent if the selected investment is not currently owned by the investment agent. Moreover, the computer program has a code segment for managing the selected investments by evaluating the performance of each investment agent, eliminating each investment agent whose performance is less than a specified performance level, and creating one or more new investment agents, each new investment agent having one or more characteristics derived from two or more of the investment agents whose performance is equal to or greater than the specified performance level.
The present invention also provides a system for managing three or more investments, each investment having one or more characteristics. The system has a computer, a means for purchasing and selling the three or more investments, a communications link connecting the computer to the investment purchasing and selling means, a database communicably linked to the computer for storing three or more investment agents, each agent having one or more characteristics, and a computer program. The computer program is resident on the computer for creating the three or more investment agents, selecting an investment for each investment agent by comparing the investment agent's one or more characteristics to the investment's one or more characteristics, acquiring the selected investment for each investment agent if the selected investment is not currently owned by the investment agent, and managing the selected investments by evaluating the performance of each investment agent, eliminating each investment agent whose performance is less than a specified performance level, and creating one or more new investment agents, each new investment agent having one or more characteristics derived from two or more of the investment agents whose performance is equal to or greater than the specified performance level.
REFERENCES:
patent: 4346442 (1982-08-01), Musmanno
patent: 4376978 (1983-03-01), Musmanno
patent: 4774663 (1988-09-01), Musmanno et al.
patent: 4910676 (1990-03-01), Alldredge
patent: 5193056 (1993-03-01), Boes
patent: 5214579 (1993-05-01), Wolberg et al.
patent: 5252811 (1993-10-01), Henochowicz et al.
patent: 5297026 (1994-03-01), Hoffman
patent: 5414621 (1995-05-01), Hough
patent: 5644727 (1997-07-01), Atkins
patent: 5745706 (1998-04-01), Wolfberg et al.
patent: 5761441 (1998-06-01), Bennett
patent: 5761442 (1998-06-01), Barr et al.
patent: 5799287 (1998-08-01), Dembo
patent: 5812987 (1998-09-01), Luskin et al.
patent: 5819238 (1998-10-01), Fernholz
U.S. Ser. No. 9,606,402, Feb. 29, 1996, Knowles et al.
M. Mitchel and Waldrop, “Complexity: The Emerging Science at the Edge of Order and Chaos”, pp. 10-13, Simon & Schuster (1992), New York.
John H. Holland, “Hidden Order: How Adaptation Builds Complexity”, pp. 65-80, 84-90, Addison-Wesley Publishing Company, Inc. (Jul. 25, 1995), Reading, Massachusetts.
Peter Coveney and Roger Highfield, “Frontiers of Complexity: The Search for Order in a Chaotic World”, pp. xi-xii, 9, 253-259, 327, Fawcett Columbine (Sep. 22, 1995), New York.
Chalker Daniel J.
Gardere & Wynne, L.L.P.
Perez Daniel F.
Tesfamariam Mussie
Trammell James P.
LandOfFree
Apparatus, method and system for adaptively managing... does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Apparatus, method and system for adaptively managing..., we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Apparatus, method and system for adaptively managing... will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-2591435