Karen Rubin, Product Director, Quantopian, a crowd-sourced quantitative hedge fund that offers a free algorithmic trading platform, was the guest at the latest Knowledge Worker Innovation event. As a newcomer to Quantopian, finance and programming, Karen set out to understand something she was passionate about: investing in female CEOs of Fortune 1000 companies.
As a product manager, she had years of building software, but her current focus is on a new IPython Research Platform that will allow quants to access curated financial data in an interactive research environment. In building her algorithm, Karen researched the performance of women led companies from 2002 and 2014. The results were a staggering 348% return, while the S&P 500 investment would have risen to $222,306, or a return of 122%.
Karen went on to say that in building a crowdsourced hedge fund, diversity is a critical component for better alpha. In their 35,000 quants worldwide there is little gender diversity. However, there is significant global diversity, as 50% of the participants are outside of the U.S. and represent a range of backgrounds from engineers, to data scientists and physicists.
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About the series
Inspired by a neighborhood of innovators and entrepreneurs, the Knowledge Worker Innovation Series consists of events that bring in thought leaders from industry and academia to discuss, dissect and explore technology topics and trends.