Rise of billionaire robots: how algos redefined hedge funds

(Last Updated On: May 15, 2016)

Rise of billionaire robots: how algos redefined hedge funds

I keep saying the computerized/automated/algo is beating humans so here are some quotes from this article

The guys who are still making money hand over fist are doing so using not their own brains, but computer models. To be specific, they are “quants”, or quantitative hedge fund managers: eight of the ten top earners on Alpha’s list fall into that category, and half of the 25 richest of the year are quants. Either they rely exclusively on computer models to tell them when and what to buy and sell, as Jim Simons at Renaissance Technologies – who holds the distinction of being the only person to appear on the list 15 years running – does, or they use them extensively to guide their decision-making, as does Ray Dalio of Bridgewater Associates.

Last year, David Siegel, cofounder of Two Sigma Investments, one of those quants, announced that one dayno human investment manager will be able to beat the computer”. Siegel, himself a computer scientist, now manages more than $35bn, and qualified for Alpha’s “rich list” for the first time this year. He debuted at No 7 with estimated 2015 earnings of $500m.



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