Intelligence

A new sort of hedge fund relies on crowd-sourcing

“QUANT” hedge funds have long been seen as the nerdy vanguard of finance. Firms such as Renaissance Technologies, Two Sigma and Man AHL, each of which manages tens of billions of dollars, hire talented mathematicians and physicists to sit in their airy offices and develop trading algorithms. But what if such talent could be harnessed without the hassle of an expensive and time-consuming recruitment process? That is the proposition Quantopian, a hedge fund and online crowd-sourcing platform founded in 2011, is testing.

Source: The Economist

More: http://www.economist.com/news/finance-and-economics/21721946-amateur-coders-write-algorithms-compete-funds-new-sort-hedge-fund

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