It sounds like Numerai could set standards for new hedge fund definition:
One of these is Numerai, the Silicon Valley-based hedge fund run by 29-year-old South African Richard Craib. It uses thousands of freelance data scientists to create machine learning models that are then used to make trades. There are around 13,000 people competing against one another to create the best strategies – the prize being around $150k in bitcoin.
“One of our investors Howard Morgan – co-founder of Renaissance Technologies – stopped investing in quant funds for a few years. Hi logic was how can you compete with Two Sigma, which has 120 PhDs using data sets in ways that no one else can?” he said.
“But we have seven or eight employees and 13,000 data scientists all around the world building the hedge fund without us. We’re in a third wave and a new kind of hedge fund is being created.”
http://news.efinancialcareers.com/uk-en/275702/hedge-fund-quantsNOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!