Mark Patchett

But the more and better access everyone has to tools, the clearer it becomes that the final bottleneck to great work is not knowledge or information. Heck it’s not even intelligence—it’s that elusive, intangible, sublime quality—call it taste, imagination, creativity, courage, judgment, intuition, agency.

A new era of quant experimentation

In trading, the objective is to place a series of trades to increase the value of a portfolio. This starts with market research. We use indicators—such as company fundamentals, volatility, and momentum—to deepen our understanding. As we learn about the market, we start to identify patterns and develop hypotheses a... See more

"I know now that I'm onto something good when everyone else thinks it’s a bad idea,” he said. “I just didn't figure that out until later."

Said differently, we try to measure what we value.

But we inevitably end up valuing what we measure.