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Renaissance, Two Sigma Drop as Quants Navigate Chaos

  • RenTec’s long-biased fund was down 20% through October
  • Computer-led firms have struggled with rapid swings in markets
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Two of the hedge fund industry’s quantitative powerhouses are getting tripped up this year as wild markets throw off their investing models.

Renaissance Technologies, which manages the world’s biggest quant hedge fund, and Two Sigma Advisers have seen losses across several of their funds in 2020, a sign of how unprecedented market volatility caused by the Covid-19 pandemic hurt even the most sophisticated traders.