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 flight recorders should provide a clearer picture of why the pilot failed to respond to a request from the control tower to change direction, even though he acknowledged their commands.
The flight recorder is more commonly known as a black box; a funny title as it is neither black nor a box, really.
Airlines will have to be able to recover data from flight recorders "in a timely manner" and extend the duration of cockpit voice recodings to 25 hours so that all phases of operation are recorded.
They said the underwater hunt for the flight recorder "has finished" but added that more searches could be launched.
GE Aviation, a provider of jet engines and components and integrated systems and product solutions for commercial and military aircraft and a business unit of General Electric Company (NYSE:GE), announced on Thursday (24 July) that the company has begun delivery of its new enhanced airborne flight recorder (EAFR) for the Boeing 787 aircraft.
A flight recorder that washed up on a beach in Somalia last week is not from the missing Malaysian Airlines Flight MH370, an Australian official said Monday, according to the Guardian.
DEPARTMENT FOR TRANSPORT of United kingdom has invited companies to submit bids for the tender floated for Contract notice: Towed Flight Recorder Underwater Locator Beacon System.
The black box flight recorder was only recovered this month and it sheds new light on the mysterious disappearance of Airbus Flight 447 from Rio de Janeiro to Paris.
The flight recorder from an Airbus A320 which crashed in Honduras on Friday (30 May) has been recovered.
When a problem is detected, AppSight captures a synchronized, real-time log of user actions, system events, performance metrics, configuration data, and code execution flow - much like the "black box" flight recorder on an aircraft captures a real-time record of a flight.
It was recovered from the seabed by an unmanned submarine days after the plane's other flight recorder was found.
At the briefing, the safety board displayed the thick aluminum recorder case, roughly the size of a hard-cover book, that held the flight recorder in the jet's tail section.