WARNING ABOUT Goldman Sachs quant bomb be very very aware

(Last Updated On: March 10, 2017)

Be very aware of the Goldman Sachs quant bomb be very very aware

Seriously, I just got this sent to me from a member which is on the paid FT side. You need to subscribe to it but I will say this, Goldman Sachs had to be big time apologize to their clients over this. It happened in 2007.

What became known as the “quant quake” subsided in a week and was largely contained within the computer-powered investment industry. It was soon overshadowed by the global financial crisis. But it scarred a generation of financial scientists on Wall Street. Even Renaissance Technologies, the legendary hedge fund co-founded by cold war codebreaker James Simons, suffered painful losses, and it nearly obliterated Goldman’s QIS.

“All this worked academically, and for a long time it worked in practice, and then all of a sudden you have this horrible event,” Mr Chropuvka says. “It was the most humbling experience of our lives.”

And now a decade later…for me I am very well aware of having a fully balance analytical system. I don’t use exclusively one way of fundamental, technical analysis, quant, and soon machine learning/AI. I would strongly advise the same you do the same!

Thanks to this member who sent this out to me!

https://www.ft.com/content/fdfd5e78-0283-11e7-aa5b-6bb07f5c8e12?emailId=58c24deebac7690004eb6678&segmentId=2597e9a1-8d0d-61e4-8734-bd027f30ddc9

 

 

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About caustic

Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at youtube.com/quantlabs