Skip to main content

Steve Cohen Protégé Ready, Willing To Put Analysts Out Of Work

An SAC alum moves into big data...the opposite of hilarity ensues.
  • Author:
  • Updated:
By Carlos Pacheco from Toronto, Canada (Hal 9000) [CC BY 2.0], via Wikimedia Commons

By Carlos Pacheco from Toronto, Canada (Hal 9000) [CC BY 2.0], via Wikimedia Commons

If Nadir Khan learned anything from three years working for Steve Cohen and then four more running his own hedge fund, it’s that getting the kind of edge—black or otherwise—that lets one succeed is boring and time-consuming. So many phone calls and boring dinners. So many nights poring over spreadsheets. So many annoying e-mails from compliance. And so many employees you have to pay to do it all.

And since we’re well on our way to self-driving cars and self-managing hedge funds, shouldn’t we AI and outsource the analysts out of jobs, too? Khan and 230 researchers in Karachi are working on it.

It’s intense and tedious work to get data and information from primary sources. His researchers call stores around the globe to get information on inventory, contact farmers for fertilizer prices, and scout out Chinese ports to find out how many ships are docked. To get access to the necessary number of people to work the phones and systematically collect that kind of granular information, Khan sourced his human data collectors in Karachi, where labor is cheap.

And once those underpaid drones have done their work, they, too, can be dispensed with.

Once Qineqt—which will go live with a pilot of five asset managers in December—has its foundation of data, it will use machine learning and other technologies to automate the collection process.

And then feed the data into Ray Dalio’s principled robots to make money for the newly-extraneous humans, who can console themselves with the fact that at least they are no longer getting reamed out by Steve Cohen.

Former SAC Trader Launches Company Focused on Big Data [Institutional Investor]



Let's Take A Trip Down Memory Lane: Steve Cohen Edition

Where the Big Guy's been and where he's goin'.


Steve Cohen To Work Cheap (By Steve Cohen Standards)

The man can hardly live on 2.75 and 30. So he won’t.


FYI: Steve Cohen Is Still Steve Cohen

Black or otherwise, the Big Guy’s still got an edge.


Tax Loophole Closure Forcing Steve Cohen Back To Work

Won’t someone please find the loophole to the loophole before it’s too late?

Steve Cohen Is Ready For His Knighthood

The hedge fund manager is back at it across the pond.


Selling Steve Cohen

“Yea, about that headline/lawsuit/etc.”