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 ?
One example of this possible encroachment upon privacy rights occurs within the automotive industry, specifically the use of "Event Data Recorders" ("EDR") in vehicles.
[4.] Tsoi, A., Hinch, J., Ruth, R., and Gabler, H., "Validation of Event Data Recorders in High Severity Full-Frontal Crash Tests," SAE Int.
However, high investments associated with the installation of EDRs and their supporting technologies, technological advancements in automotive safety features, and issues about data privacy may hamper the growth of the global automotive event data recorder market size.
[1.] United States Code of Federal Regulations, 49 CFR Part563 "EVENT DATA RECORDERS"
Yet as of fall 2013, roughly 96% of all new vehicles sold in the United States have event data recorders, as "black boxes" are more formally known.
Recorder: Key evidence was found in the Event Data Recorder in Antonio Boparan Singh's Range Rover (above) which put his speed at 72mph when the collision happened.
''By increasing the number of event data recorder readout devices and training more staff across the country, Toyota is better prepared to respond to customer concerns quickly and address their needs more effectively,'' Steve St.
Event data recorders can validate air bag, seat belt and brake status or vehicle speed, throttle position and velocity changes.
Proposals for what are known as "event data recorders" were included in the Commission's latest Road Safety Action Plan.
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.
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).
Their topics include an overview of rollover reconstruction, advanced analysis methods: rollover phase, analysis methods: loss-of-control phase, error rates of the speed analysis methods, event data recorders in rollover reconstruction, and analyzing occupant ejections for rollover crashes.