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Summary List PlacementEvery financial institution in the world is constantly searching for new, unique datasets that can give them an edge. A new peer coming in May plans to find them and put them to use at record speed. Red Cedar, a new Stamford, Conn.-based quant fund set to launch in May, is run by CEO Alexander Chernyy, a Russian-born academic who has worked...

Big-name quants were slammed in March, as their models struggled to keep up with the coronavirus-induced selloff. AQR's former head of machine-learning, Macros Lopez de Prado, said on a webinar hosted by alt-data company Thinknum on Friday that quants were too reliant on models and forecasts. He said they need to begin practicing "nowcasting"— reacting to real-time data instead of trying to predict the...

Coatue, billionaire Philippe Laffont's firm, opened a quant fund last May to outside investors even as many larger quant funds were struggling in an increasingly competitive space. In the hyper-competitive space of quant funds, where the biggest managers like Two Sigma, D.E. Shaw, and Renaissance Technologies are investing more every year into new data streams and artificial intelligence, new players face an uphill battle....