Mike Chen, a portfolio manager at PanAgora Asset Management, said firms need to develop an investment question before diving into alternative data.
Mike Chen, a portfolio manager at PanAgora Asset Management, said firms are struggling to find value in alternative data because of their approach.
Chen said the quantitative hedge fund always as a specific investment idea in mind before reaching out to any alternative data provider. He described it as a pull model rather than a push model. "Otherwise you are just throwing darts at the dartboard with a blindfold on," Chen said."Even asking the right questions, you still won't be right 100%, but at least your probability will be much higher. Just trying to aim a little bit before they throw."Wall Street is obsessed with alternative data, but Nasdaq's CEO is sounding a warning bell
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