The FT profiles the rise of D.E. Shaw from a "ramshackle startup" with "geeky programmers trying to crack the code to financial markets" to a $50b quantamental powerhouse.
It has enjoyed some mainstream fame as the place where a young Jeff Bezos first worked on what would ultimately become Amazon. But most importantly for a wider investment industry desperately trying to reinvent itself for the 21st century, DE Shaw has evolved dramatically from the algorithmic, computer-driven “quantitative” trading it helped pioneer in the 1980s. It is now a leader in combining quantitative investing with traditional “fundamental” strategies driven by humans, such as stockpicking. This symbiosis has been dubbed “quantamental” by asset managers now attempting to do the same. Many in the industry believe this is the future, and are rushing to hire computer scientists to help realise the benefits of big data and artificial intelligence in their strategies.