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Andrew S. Peskin Benedicte Gravrand, Opalesque Geneva for New Managers: There aren’t many one-man shops around in the hedge fund world but we talked to one. Andrew S. Peskin, who is based in Richmond, VA, manages a CTA called Omniversal. He started trading when he was in college in 1990 and continued through 1999 with family and friends’ money, and later with some institutional money. As he felt there were some systematic problems with quantitative technical systematic trading, he returned the money to investors and took a sabbatical to do some research – which he did until 2003, when he came up with a quantitative model that understood well enough the market place’s behavior. He then formed a company that sold high probability forecasts of future price activity, based on the new model, to institutions and banks. He lost many of his clients after 2008. But then he decided to systematize the model into a trading one.
"I also spent the time writing software for back office, middle office, order management, things of that nature to support a trading operation," he told Opalesque. "Then worked with legal and compliance to put together a fund and then started trading in April of 2014."
The biggest problem facing systematic quantitative traders is that the financial markets are non-stationary - that is, over time the underlying rule structure of the market...................... To view our full article Click here
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