Wednesday, 1 October 2014
Last updated 6 hours ago
Dec 4 2012 | 12:11pm ET
One of the industry's most prominent quantitative hedge funds is shunning the "high-frequency" label.
Two top D.E. Shaw & Co. executives told the Reuters Global Investment Outlook 2013 Summit in New York that the firm does not consider itself among the high-frequency set.
"I don't think we view ourselves as high-frequency traders," Darcy Bradbury, managing director for external affairs at the $27 billion hedge fund, said. "No one can define what high-frequency trading is, obviously. If it's using computers to trade stocks, we've been doing that for 25 years."
Bradbury said that less than half of D.E. Shaw's assets are in short-term models.
While Bradbury's protest may seem an effort by the secretive D.E. Shaw to distance the firm from a strategy that's gotten some bad press in recent years, Max Stone, a member of the firm's executive committee, said that he doesn't see HFT "as a malevolent force."
Stone also shed some light on where D.E. Shaw is investing in the closing days of what Bradbury called "a really good year" for the firm. He cited Japan, noting that shorting the yen and Japanese sovereign debt while betting on Japanese stocks would be a good move.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...