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Alternative Market Briefing

Revenge of the Humans: How Discretionary Managers Can Crush Systematics

Friday, May 12, 2017

Matthias Knab, Opalesque:

Leigh Drogen, Founder and CEO at Estimize, former Quant Hedge Fund Manager, writes on Harvest Exchange:

This is the entirety of a three part series that was originally published by Integrity Research and titled The Great Quant Makeover - Part 1: How Discretionary Managers Can Cope with the New Systematic Realities , Part 2: The Rise of the Quants and How Some Successful Discretionary Managers are Responding , Part 3: Revenge of the Humans or How Discretionary Managers Can Crush Systematics

Six months ago I found myself in our Estimize office sitting across the table from a hedge fund portfolio manager who said something I honestly couldn't believe. According to this PM who runs a $500M long/short book at a large multi-manager fund, he was taking a data science course at night, after work. He told me, "if I don't learn how to do quantitative analysis I'm not going to have a job in two years." A second said the same thing to me a week later.

Two weeks after that I received an email from the "school" providing that very course, inquiring if I could teach a data science class, specifically for finance, to 25 members of a hedge fund who had contracted them.

These are just a few anecdotes among many in the absolutely massive transformation taking place right now within the discretion......................

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