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// QUANTITATIVE RESEARCH · AI · MARKETS

Signal from noise.

Notes on AI, quantitative trading and financial technology — written from the trenches, not the sidelines.

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2026.07.22 // LLM FOR DUMMIES // 9 MIN

LLM for Dummies #1 — Tokenization: Your AI Has Never Read a Word

First stop in a series that explains how large language models actually work, no PhD required. Before any 'intelligence' happens, your text gets chopped into numbered chunks called tokens — and half of the weird things LLMs do trace back to exactly this step.

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