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.
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References in periodicals archive ?
The Egyptian investigation committee said preparations were under way to transfer the two flight recorders to Alexandria where they will be received by an official from the general prosecutor's office and investigators.
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.
Abbot told Xi before a State dinner with the Australian premiers at the Great Hall of the People in Beijing - an unprecedented audience - that search teams led by the Australian ship Ocean Shield had narrowed down the area in the Indian Ocean where pings from the flight recorders are being received to a grid of around 10km by 10km, News.com.au reported.
Four signals linked to aircraft beacons have been detected by the Australian vessel Ocean Shield using US equipment, with the first two analysed as being consistent with those from aircraft flight recorders. "We are confident that we know the position of the black box flight recorder to within some kilometres," Abbott said Friday on his trip to China, home to two-thirds of the 239 people on board the plane.
THE black box flight recorder of a Super Puma helicopter that crashed into the North Sea killing four offshore workers has been found.
The search for the other flight recorder and the remaining parts of the plane continued overnight.
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 US navy ship with specialized equipment detected signals in January which were thought to be from the plane's flight recorder, when the ship was part of the search for the missing Adam Air Boeing 737 plane in Indonesia.
Yesterday searchers located a signal from the jet's black box flight recorder in 190ft of water.
The US military firmly denied last night that pilots tampered with the flight recorder of a warplane which caused last Tuesday's Italian cablecar disaster in which 20 people died.