Reuters – In the secretive world of hedge funds, algorithms are not shared because they provide the juice behind market-beating returns, and are a key reason why hedge funds charge their clients “two and twenty” – an annual fee equivalent to 2 percent of assets, plus 20 percent of gains.
Now startup company Quantopian offers a tantalizing proposition for software and financial geeks who want to trade like a hedge fund manager – but don’t want to pay those steep fees. The Boston-based firm is bringing together a community of people who build algorithms used for trading stocks.
