Black Box

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Black Box

1. Any complex investment strategy or model. In general, a black box involves a computer using complicated formulas to achieve returns in the desired way. Because an investor may not understand the model (and may not be able to do so), a black box can lead to unforeseen problems. See also: Black box syndrome.

2. In Islamic finance, a strategy that allows one to invest funds in a Sharia-compliant way but still link the returns to non-compliant investments. Using a black box is very controversial and some Islamic finance scholars reject it as un-Islamic.
References in periodicals archive ?
These patents strengthen our leadership position as a provider of video event data recorders for commercial fleets," said Ed Andrew, president of DriveCam.
More on event data recorders and the latest crash statistics from the National Highway Traffic Safety Administration.
Those new to the technology tend to see automotive event data recorders as earthbound versions of the better-known aviation black boxes that record flight data and cockpit conversations.
Utilizing Data from Automotive Event Data Recorders, Proceedings of the Canadian Multidisciplinary Road Safety Conference XII, at 12 (London, Ontario, June 10-13, 2001), www-nrd.
In addition, the National Highway Traffic Safety Administration has been toying with a rule requiring event data recorders in all new vehicles.
Toyota said it will expand the use of event data recorders to investigate the cause of accidents and boost the number of technology offices worldwide including in North America, Europe and China.
Event data recorders in newer autos can collect accident-related information with remarkable precision, including a change in vehicle velocity and when brakes were applied.
IEEE, the world's leading professional association for the advancement of technology today announced the completion of IEEE 1616a, a new standard based on IEEE 1616, the first universal standard for motor vehicle event data recorders (MVEDRs), similar to units found on aircraft and trains.
In a statement, the Commission said its officials would examine "the added value of developing and installing event data recorders in particular on professional vehicles, to improve technical investigations and analysis of accidents".
Gray Davis in September, California has taken the lead in privacy protection relating to event data recorders (EDR)--sometimes referred to as sensing and diagnostic modules (SDM).
Event data recorders (EDRs)--commonly called `black boxes' in an analogy to the flight and voice data recorders used on commercial airplanes--are the hottest thing in vehicle safety technology.
8, 2012 /PRNewswire-USNewswire/ -- "AAA strongly supports the use of event data recorders, provided the automobile owner has access to the data and their privacy is protected.