Former AQR exec: quants should 'nowcast' instead of relying on models - Business Insider

than 2007's infamous "Quant Quake" that decimated Goldman's systematic trading unit. A former AQR Capital executive is recommending that to avoid further shocks quants should adopt the practices of the people that track real earthquakes.

"Forecasting made a lot of sense decades ago when we had very limited data, that was delayed and slow," Lopez de Prado said. "Today we have an abundance." Big-name quants like Schonfeld Strategic Advisors, Renaissance Technologies, Bridgewater, Point72's Cubist, and Quantedge were crushed in March as the novel coronavirus pandemic introduced never-before-seen volatility into the markets. Bridgewater's billionaire founder Ray Daliothat "of course we are questioning if we should have done things differently."

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