Do you watch the show Billions?
It’s one of my favorite shows. It’s loosely based on a story of Steven Cohen.
It’s about hedge fund billionaires. Their lifestyles and crazy stories.
Steven has been out of the game for some time. But he’s back.
He raised $5 billion of outside capital last year when he launched his new fund.
And now he’s doubling down on quant trading strategies. While others like HBK Capital Management are throwing in the towel.
HBK will be closing its quant unit. They are liquidating a $400 million quant fund and returning the capital to investors.
I guess it’s not just humans who don’t know how to trade this market.
Math PhDs are just as clueless…