First Pile of Steven Cohen Cash Is Handed Out to Quantopian's Amateur Coders
- Crowd-sourced quants running more than $10 million on codes
- Firm faces challenge of weeding out sustainable algorithms
Point72’s Steve Cohen Invests $250M in Quantopian
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For 15 amateur quants who made the cut, a chunk of Steven Cohen’s money just got to work behind their code.
Quantopian Inc., the online platform where members build and run computerized trading programs, has begun spreading around the $250 million it got from Point72 Asset Management LP’s chief executive officer last year. One strategy chosen from more than 100,000 submitted for U.S. equities just got $3 million from the crowdsourced firm.