Future Finance
From Fitbits to Rokus, Hedge Funds Mine Data for Consumer Habits
- Managers seek to gain elusive trading edge amid tough markets
- Most of the world’s biggest funds have data initiatives
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When it comes to gaining that elusive trading edge, data is fast becoming the new frontier whether it comes from Fitbits, Rokus and Teslas or employment websites like Glassdoor.com.
That’s why some of the world’s biggest hedge funds, from Steve Cohen’s Point72 Asset Management to Ken Griffin’s Citadel, have been snapping up large swaths of alternative data. Many are paying big money for it.