This article provides a striking example of how quants are changing the investing world. Here are a few excerpts from the article:
Said Siegel: “Eventually the time will come that no human investment manager will be able to beat the computer.”
Within the last five years Overdeck and Siegel’s for profit Wall Street think tank has quietly swelled from $5 billion to $28 billion in assets.
Two Sigma’s data scientists and systems analyze more than 10,000 data sources, using 75,000 CPUs with 750 terabytes of memory. Their hedge funds have executed more than 1.2 billion trades over the last 14 years.
Its core hedge fund operation, run out of offices in Manhattan’s SoHo district, now employs more than 800 researchers, computer programmers and statisticians...
From:
http://www.forbes.com/sites/nathanvardi/2015/09/29/rich-formula-math-and-computer-wizards-now-billionaires-thanks-to-quant-trading-secrets/
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