Social media and news aggregators have so far not proved useful as sources of big data for hedge fund investors, according to David Hand, the chief scientific adviser to quant fund Winton Capital Management.
This is despite a number of hedge funds saying they are increasingly interested in big data analytics, citing social media sources and news aggregators as innovative ways to spot trends and generate alpha.
“There is a lot of big promise around big data but it is not without its risks,” says
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