Salomon Brothers: Why Own A Cray When You Can Rent One?

THIS WEEK'S LEAD STORIES

Salomon Brothers Inc. is thought to be locked in a horse race with three other firms to invent the fixed-income portfolio optimization formula which -- like the philosopher's stone -- will transmute raw market data into trading profits. Behind locked doors in windowless, bunker- like computational laboratories, Wall Street's most brilliant rocket scientists are engaged in a feverish contest to apply the unmatched processing power of Cray supercomputers to the trading of fixed-income

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