Quants are still struggling to extract alpha from big and alternative datasets, despite heavy investment in data science.
“How much alpha can we actually make? The answer is, today, not a lot,” said Christine Qi, co-founder and partner at Domeyard, a quant hedge fund specialising in high-frequency strategies.
The problem, according to Michelle McCloskey, president of Man Group, is noisy data. “There’s a tremendous amount of data being utilised in a number of ways and a lot of that data ends