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 ?
The NHTSA's Crashworthiness Subcommittee of the Motor Vehicle Safety Research Advisory Committee ("MVSRAC") formed an Event Data Recorder Working Group in 1998 to "understand the status of EDR technology; understand the needs for crash data; [and] review privacy issues.
Along with an event data recorder with GPS and a passenger compartment voice recorder, the process of investigating, solving, and possibly prosecuting vehicle accidents just might be able to move into the 21st century.
Between 65% and 90% of new cars and light trucks will be equipped with event data recorders in the next few years.
Event data recorders are now being de signed into many other products to aid in diagnosing problems that may arise with usage of the given product.
Driven by a lack of the uniform scientific crash data needed to make vehicle and highway transportation safer and reduce fatalities, the IEEE has created IEEE 1616(TM), the first universal standard for motor vehicle event data recorders (MVEDR) much like those that monitor crashes on aircraft and trains.
Event data recorders (EDR) are electronic devices that capture crash data in the seconds before, during, and after a crash.
EDR InSight is a comprehensive, Web-based service that offers claims professionals the first and only solution to facilitate the use of Event Data Recorder information in the claims evaluation process.
The automobile event data recorder, or black box, is present on many makes and models of vehicles on the road today.
HindSight 20/20 software works in conjunction with the DriveCam video event data recorder to identify high-risk driving habits and reduce the frequency and severity of collisions.
DriveCam Video Systems, a developer of fleet safety technology, today announced that it has been issued a third patent for technology related to its DriveCam video event data recorder.
Injury Sciences LLC announces the launch of its Event Data Recorder (EDR) Web Portal: A solution that assists automobile insurers in harvesting automotive "black box" or EDR data.
The complete Driving Feedback System includes the DriveCam video event data recorder, HindSight 20/20 software for managing and evaluating driving events, a manager's guide, driver guide and instructional videotape.