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Steve Cohen bets $250 million on firm that uses algorithms

From reuters.com

Billionaire investor Steven A. Cohen is committing $250 million to a Boston-based investment firm that lets scientists, developers and students submit computerized investment models and then picks the most promising ones to manage the money. Quantopian, a hedge fund that makes investments with the help of algorithms submitted by thousands of would-be traders, is getting the $250 million in investment capital from Cohen's venture capital arm Point72 Ventures, the investment firm and Cohen's family office said in a news release on Wednesday. Cohen is also making an undisclosed investment in Quantopian itself. Cohen for ... (full story)

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