This news is about 9 months old now but nonetheless this was an interesting writeup.
Via Bloomberg: Morgan Stanley Yoga-Troubadour-Crossword-Math Pro Muller Flees
Bloomberg has me somewhat confused; surely they know Citadel has had more than a couple quant groups for over a decade. I’ll give them the benefit of doubt and maybe they meant “expand” the quant business. This from the same source on Misha Malyshev a couple years back.
Citadel LLC, the $11 billion hedge fund run by Ken Griffin, hired Jamil Nazarali and Matt Cushman, former executives atKnight Capital Group Inc. (KCG), to lead a new effort in quantitative trading…
Quantitative hedge funds, which use complex mathematical models to pick investments, returned 2.1 percent this year through March compared with an industry average gain of 1.6 percent, according to Hedge Fund Research Inc. The funds rose 8.8 percent last year and 14 percent in 2009, data from the Chicago-based research firm show.
Congrats to this past year’s winners from Eurohedge, including GSA Capital sharing the Equity Market Neutral & Quantitative Strategies award for the second year in a row. Previously winning outright in 2009. The only other repeat winner was BlueCrest. (Link)
I’m hoping to post a bit more info on non-competes shortly, but this article came across my desk yesterday:
High-Frequency Trading Rivals In Suit Over Hiring Of Astrophysicist
Via Forbes: Houston firm Quantlab Financial claims rival Tower Research Capital of New York intends to hire Yongzhong Xu. (Read More)
UPDATE: (Ctrl-C / Ctrl-V….)
Accused Soc Gen High Frequency Thief Was Headed To Tower Research
Via DealBreaker: The former Societe Generale trader arrested yesterday on charges of stealing Soc Gen’s computer code for high-frequency trading was set to begin work this week at Tower Research Capital, a New York based quantitative hedge fund, according to a source. Samarth Agrawal was charged yesterday with one count of theft of trade secrets,
EuroHedge Awards 2009 (click for link) - Congrats to all the winners below and in particular funds with more Quantitative focus. As I’ve noted prior, although I myself am US based, my geographic scope hasn’t been limited and I’ve been also able to extend my reach from the UK to now Asia also. For more information about a couple of the funds below, please feel free to reach out to me.
EDIT: I had mistakenly copied and pasted the 2008 Award winners in my past post. The correct winners are now posted below.
Winners:
UK EQUITY
GLG Alpha Select
SMALL CAP
AlphaGen Volantis
EUROPEAN EQUITY (under $500m)
Zebedee Focus
EUROPEAN EQUITY (over $500m)
AlphaGen Tucana
GLOBAL EQUITY
AlphaGen Rhocas
EMERGING MARKET EQUITY
SR Global Emerging
EQUITY MARKET NEUTRAL & QUANT STRATEGIES
GSA Capital International
EVENT DRIVEN
York European Focus
CONVERTIBLES & VOLATILITY STRATEGIES
Jabcap Global Convertible
FIXED INCOME
Pelagus Capital
CREDIT & DISTRESSED
Fortelus Special Situations
EMERGING MARKETS (DEBT & MACRO)
Pharo Trading
COMMODITIES
Armajaro Commodities
BlueGold Global
MANAGED FUTURES & CURRENCY
IKOS G10 Currency
GLOBAL MACRO
Pharo Macro
MULTI-STRATEGY
CQS Directional Opportunities
NEW FUND OF THE YEAR - EQUITY STRATEGIES
Marshall Wace Global Opportunities
NEW FUND OF THE YEAR - RELATIVE VALUE & MACRO
Numen Credit Opportunities
LONG TERM PERFORMANCE – EQUITY STRATEGIES
Lansdowne Global Financials
LONG TERM PERFORMANCE – RELATIVE VALUE & MACRO
Brevan Howard
MANAGEMENT FIRM OF THE YEAR
BlueCrest Capital Management
FUND OF THE YEAR
Jabcap Multi-Strategy
Rohit D’Souza was on vacation with his family in India in May 2008 when he got a call from Ken Griffin, founder and chief executive officer of Citadel Investment Group LLC. Griffin wanted the banker, who had just quit his job as head of equity trading and sales at Merrill Lynch & Co., to help him do something no other hedge fund had ever tried…. (Link to Full Story: Bloomberg)
Update, a day later…: Citadel Suffers Setback as D’Souza Leaves Firm After a Year
This is nothing new to the Europe but I’ve been hearing about it for a while over in the States:
A flood of U.S. firms have streamed into Europe’s carbon credit trading system; in this and other ways firms are forging ahead under the assumption that the Senate will pass a climate change bill that creates a market for trading carbon credits. By Penny Crosman
A couple recent articles:
HFT Does Not Create Volatility, Says Buy Sider
Don’t Set Speed Limits on Trading
High-Frequency Trading Debate Goes Well Beyond Stocks
and my favorite, finally someone said it: Goldman and High Frequency Trading
“This argument not withstanding, I doubt that Goldman is making much of its money from high frequency trading”
On a slightly related note, I’m in Chicago this week.
Please note that QuantRecruiter.com is not hosting this video. Amazing how things have changed but nonetheless an interesting video.
Edit: Not surprising, this video has been pulled from circulation on popular video feed sites.
In recent news: Tudor Investment Calls Stock Gain a Bear-Market Rally
