Quants Are Making It Impossible For The Individual Trader
By Courtney Comstock, courtesy of Clusterstock
The author of the new book, The Quants, talks on Yahoo Finance about the quantitative machine-based trading that has fully taken over Wall Street.
Scott Patterson says that there has been a huge rise in the number of quant traders on Wall Street and they make it really hard for the individual to compete on a level playing field.
"[The individual trader] has no idea the forces that are arrayed against him," says Patterson.
As he notes, Ren-Tec alone has 90 Ph.D’s figuring out market patterns. Good luck going against them.
