Timeline for What kind of data cleansing/scrubbing are hedge funds doing?
Current License: CC BY-SA 4.0
14 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| S Aug 7, 2021 at 22:35 | vote | accept | Dylan Kerler | ||
| Aug 7, 2021 at 22:17 | vote | accept | Dylan Kerler | ||
| S Aug 7, 2021 at 22:35 | |||||
| Aug 7, 2021 at 21:11 | answer | added | Dimitri Vulis | timeline score: 2 | |
| Aug 7, 2021 at 15:46 | answer | added | Pleb | timeline score: 4 | |
| Aug 7, 2021 at 15:22 | comment | added | Bob Jansen♦ | @Pleb Agreed, but that’s inherent to this question unless Jim Simons himself decides to answer ;) | |
| Aug 7, 2021 at 15:18 | comment | added | Pleb | @BobJansen I can. But the comment is very generic. | |
| Aug 7, 2021 at 14:47 | comment | added | Bob Jansen♦ | @Pleb Can you make it an answer? | |
| Aug 7, 2021 at 14:32 | comment | added | AKdemy | Is it really that difficult to run 100m - the answer is no. If the goal is to run it in less than 9.85s, it becomes almost impossible. Very good speech for this topic. | |
| Aug 7, 2021 at 14:28 | comment | added | AKdemy | I guess if you listen to your own source of Nick Patterson, you have your answer. Firstly, he does not claim all they do is data cleansing. Secondly he just mentions that in his view (look up what he does, and did, so some caution is needed) they mainly did simple regression. The reason they need to hire smart people is not because the model is so difficult, but to understand when the data is rubbish (his words and he elaborates on that). "The most important thing is to do the simply things right". "Nobody tells you what to regress, what's the target, what's the source...." | |
| Aug 7, 2021 at 11:52 | comment | added | Pleb | In general, employing proper data cleaning is an important part of creating a working quantitative model/strategy, since feeding noisy (improperly cleaned) data into a quantitative model will always yield bad results. In my honest opinion, I do not believe you need to be a PhD to do the job. However, there is a large supply of jobseeking quant developers/IT guys wanting to work in a hedgefund. Thus, hedgefunds can be selective and get "the best of the best" for the job, which is usually PhDs. [2/2] | |
| Aug 7, 2021 at 11:49 | comment | added | Pleb | "It's a well-known fact that several hedge funds have a handful of PhDs just doing data cleansing". Be aware that many large institutions using vast amount of data for their internal models (banks, pension- and hedge-funds, insurance) usually have their own division for data cleaning and gathering. Often, to strengthen internal quantitative models, companies might rely on external data bought from another firm, which needs further cleaning in order to be reliable. [1/2] | |
| Aug 7, 2021 at 11:39 | comment | added | Dylan Kerler | Any data related to trading - so just about everything. There are quite a few sources but here is one from Nick Patterson (former Rentec employee) who says that they had 7 PhDs just working on data cleansing at minute 38:00: thetalkingmachines.com/episodes/… | |
| Aug 7, 2021 at 11:21 | comment | added | Kermittfrog | Could you please be more specific? What kind of data are you referring to? What’s the source to your fact? Thanks a lot | |
| Aug 7, 2021 at 11:15 | history | asked | Dylan Kerler | CC BY-SA 4.0 |