Something we’ve long-maintained around the Dealbreaker office is that hedge fund manager Jim Simons would make a great fairy godmother, what with his soothing voice, white beard, and the fact that he’s really just a lovable math teacher who happened to make a zillion dollars by tinkering away the computers in his garage and would be happy to lend the powers of his magic cigarette wand to those in need. So we were extremely pleased to see our fantasy brought to life by way of an anecdote from Scott Patterson’s new book Dark Pools, in which Simons seems to appear out of nowhere, just like a FGM would, sprinkles unexpected gifts on a young man and woman (of both hope* and nicotine), and then disappears as quickly as he came via golden carriage. (We also appreciate that Simons is the kind of FGM that will laugh in your face as you explain to him what a quant fund is, not realizing you’re talking to a guy who’s got some experience there.) Read more »
This Is A Story About A Guy Telling A Random Dude On The Street “I’m actually building a hedge fund that uses quantitative strategies to pick stocks” And That Dude Actually Being Jim SimonsBy Bess Levin
Rebellion Research is a hedge fund that uses Artificial Intelligence to invest, being of the mind that computers = smart, man = stupid (It’s pretty clear that human beings aren’t improving,” Spencer Greenberg, the brains behind Rebellion’s AI system, has said. “But computers and algorithms are only getting faster and more robust.”) The firm had around $7 million in assets under management as of 2010 and, according to a recent interview, says it has doubled in size in the last year. Whereas other firms would be content to rest on their laurels, skating by on previous success, Team Rebellion is still hungry. Here’s the pitch: Read more »
You know what’s so fucking hot right now? Tea. You know how we know that? Because the Post has deemed it so. And you know how they know that? At least one person drinks it in mass quantities– legendary hedge fund manager Spencer Greenberg. Greenberg, you may recall, is the 27 year-old co-founder of Rebellion Research, a firm that uses “artificial intelligence” to invest and manages under $7 million. His passion for leaves is cited today as evidence that this stuff that’s been around for thousands of years is finally now a ‘thing.’ Greenberg, pictured here with his stash and described as resembling Jake Gyllenhaal, we’re told, “is not your average tea enthusiast.” Read more »
Rebellion Research Founder Discusses Artificial Intelligence-based Investing, Subtley Undermines Star TraderBy Bess Levin
Back in July, we met the principals of Rebellion Research, a new hedge fund described by the Journal as being like a teeny tiny RenTec, sans the cartons of Pall Malls. Founded by Spencer Greenberg, the firm uses “artificial intelligence” to invest, being of the mind that computers = smart, man = stupid, and that trying to go head to head with a computer would be a bad idea (“No human could do this,” Michael Kearns said. “Your head would blow off.”) And speaking of man versus machine, there’s one very important thing missing from the photo at left. In fact, you might call him the “star” of Rebellion. Read more »
Rebellion Research’s Computer Named “Star” Reduced International Exposure “Before A Lot Of The Problems Came About In Greece”By Bess Levin
Meanwhile, Erin Burnett catches up on Minesweeper.
First off, let me start by putting this out there: Team Rebellion doesn’t need your money. As you can plainly see from the photo at left, if this whole hedge fund thing doesn’t work out, the principals can easily find work as a boy band. Having said that, they’re going to keep at this money biz a bit longer and would love to have you along for the ride. Here are the relevant details:
* The Rebels are like a teeny tiny RenTec, sans the Pall Malls.
* They use Artificial Intelligence to invest, being of the mind that computers = smart, man = stupid (“It’s pretty clear that human beings aren’t improving,” said Spencer Greenberg, 27 years old and the brains behind Rebellion’s AI system. “But computers and algorithms are only getting faster and more robust.”)
* You could try to do what they do at home, but you would most likely die.
“No human could do this,” said Michael Kearns, a computer-science professor at the University of Pennsylvania who has used AI to invest at firms such as Lehman Brothers Holdings Inc. “Your head would blow off.”