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4 Big Banks Score Perfect 61-Day Run JPMorgan Traders Match Goldman's Quarter With No Trading Loss Goldman Traders Had a Perfect Quarter China May ‘Crash’ in Next 9 to 12 Months, Faber Says Most Popular Franchises Goldman Sachs Tops JPMorgan as World's Best Broker Morgan Stanley Traders Made More Than $100 Million on 18 Days Bank of America Merrill Lynch launches algorithm suite for Brazilian equities Goldman May Lose Millions From Ex-Worker’s Code Theft NYSE Loses Market Share and Nasdaq Isn’t the Winner Automated Trader Magazine Q2 2009 25 things vanishing in America, part 2: Trading pits Power of Six The Great Lie of 2009  The Power of six The masterminds at hedge fund giant D.E. Shaw think they've found the formula for thriving during troubled times. By Michael Peltz Few hedge fund firms have a more well-deserved reputation for secrecy than D.E. Shaw & Co. Founded two decades ago by David Shaw, Then a computer science professor at Columbia University, the outfit was an early pioneer in quantitative investing - developing sophisticated computer programs to identify and profit from anomalies in the market. Like Coca-Cola Co., which zealously guards the formula for it's prized syrup, D.E. Shaw has always vigilantly protected its proprietary trading algorithms. So secretive was the firm during it's first few years that some employees wouldn't even tell their families where they worked, let alone what they were doing there. "There's a healthy paranoia that we have in the firm," says managing director Eric Wepsic, 39, who oversees quantitative trading strategies. Institutional Investor's Alpha - March 2009 |
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