From LinkedIn by Matthew Bradbard May 30, 2017
We were sort of confused when we noticed the Wall Street Journal is doing an entire series on what they’re calling “the quants,” including the lead article title “The Quants Run Wall Street Now.” Now? Are they not familiar with Scott Patterson’s 2010 book “The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It.” Mr. Patterson was, after all, a staff reporter of… wait for it… the Wall Street Journal.
We get it, algorithms and quants and machine learning and roboadvisors and all the rest are the latest buzz words in a financial world increasingly comfortable with the concept of computers running things, from self-driving cars to algorithm-driven shopping recommendations to self-adjusting thermostats. There’s also the fact that “Quant hedge funds” are responsible for 27% of all U.S. stocks traded these days, just slightly behind individual investors at 29%, and now comfortably ahead of such trading by “other hedge funds” and traditional asset managers.
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