AlgoDeal

Discussion in 'Automated Trading' started by caementarius, Mar 8, 2011.

  1. lol - so let me get this straight. You have made this website, taken thousands of strategies from others, and then taken all of this information and incorporated with "outside help"?

    So again, just to reiterate, this was just a large data mining experiment labeled with the guise of something much different. You really can't church it up to make it sound like anything less.

    I hope your T&C was written well because I can see very many people upset along with a lasting bad reputation for whomever was funding this data mining experiment in the first place.

    I would be interested to know if any users that have submitted strategies to this charade have anything to add.
     
    #21     May 5, 2011
  2. elefevre

    elefevre

    Yes. However, that costs a lot of time, especially if you want a robust enough system, close to the market. We have already worked out that part.

    Note that we also offer back office services, a legal framework, etc.

    How about what is made with $10M? We are not interested in strategies that have a capacity of a hundred thousand $.

    However, most important is that we are taking ALL the risks. The strategy author cannot lose any money at all if his strategy fails. I believe that gives us an edge over the fact of risking 10K$ of one's own money.

    Indeed. That's what we are doing now.
     
    #22     May 6, 2011
  3. elefevre

    elefevre

    Our original goal with the whole thing was not so much to find strategies as much as to find authors with whom to build a lasting relationship. Finding the best performing strategies was the way to finding those people. Ideally, we would regularly contact them to maintain strategies, discuss changes in investment amounts, and talk about adapting the strategy to various contexts. (does that sound like a lot of work? well, we are a small team, and we do not have the capacity to maintain all the strategies by ourselves. I guess this is no entirely free lunch for strategy authors)

    Also, we wanted to end up with a large catalog of strategies (50, say), so that risks would have been somewhat mitigated.

    We thought that would work. We were mostly wrong. The problem is that strategies are too mediocre to go much further (although we did identify a couple of people that we are now talking with).

    You might not believe me, but I do hope that the fact that I, a member of the Algodeal team, am responding, shows that we are in good faith. I'm not even trying very hard to hide my identity; if you are really upset about us stealing strategies, it wouldn't be very hard to track me (or even any other member of our team) down and ruin my career.

    Well, I would definitely be happy to talk with anyone who have the slightest doubt that we have cheated him. If any of those people are on this thread, please do let all participants know.

    @Algo_Design_Kid: you mind also be interested in putting a call on our support site, and see how our users respond. Although, to be honest, I'm not sure we have reached a critical user base that would ensure a response.

    In the end, we are still a startup. We had a bold vision and, given the odds of any startup to make it, we might fail. But we are not crooks.
     
    #23     May 6, 2011
  4. Cool - are there any asset classes or timeframes you are particularly interested in? Do you generally contact people after a high score or only after you've done some review of their code?
     
    #24     May 6, 2011
  5. this is the biggest bs I have EVER read, here is why:

    1) Every experienced trader and investor can conclude whether a strategy is sound or not by looking at trading blotters containing a few months of trades. You dont need any strategy code for that whatsoever. If you send me a blotter of, lets say 1000 intra day trades I will tell you exactly what the strategy does, and how its risk module is structured.

    2) 10%??? I get 10% at ANY investment bank that has interest in running prop algo strategies, why do I need you guys? Plus I get all the IT, programming, data, software/hardware resources for free as icing on the cake. What do you have to sell on top of that???

    3) If I, as quant need help programming, I would definitely NOT give my strategy away to suckers like you people. I would hire a cheap programmer for 3000-4000 RMB in China (yes, the top CS graduates from the best schools in China cost just that per month, I hired several of them and they do an excellent job).

    4) So your selling points are exactly what? a) backtesting platform? (I have and all other quants who approach you with strategies have otherwise how would they develop and test their ideas? b) platform for trade execution and backoffice? My prime broker (such as Interactive Brokers) offers all that and more. c) Legal framework? You mean legal bla that spins things in your favor with the court location in Paris should things go awry? Funny...to say the least...d) NO RISK???? WHAT ARE YOU TALKING ABOUT? NO RISK EXCEPT SOMEONE IS STEALING MY IDEAS AND WORK????

    You guys must deal with real idiots in case you find a single soul who is dumb enough to bite. Enough said.



     
    #25     May 6, 2011
  6. of course!!!

    I cannot even believe there are some here who seriously talk to those bastards. Seriously, I am boiling when I read such audacious posts. How much shabbier can it get???


     
    #26     May 6, 2011
  7. would be curious to know how many license agreement those guys are violating by allowing the usage of financial price data by third parties to run locally or remotely....just wondering...or did you guys pay up big time for a license that allows free dissemination of pricing data to third parties? I have never heard of such deal but who knows what goes in ol' France...

     
    #27     May 6, 2011
  8. Please sign me up at an investment bank with this deal. Looking forward to hearing from you. Thanks.

    Helloooo? You do realize that I am right here reading this post, don't you?
     
    #28     May 6, 2011
  9. a) you could contact pretty much any of the top ibanks. If you trade stocks contact their equity department, start with HR if you dont know anyone else. If you have control over strategies that are worth north of 2.5 sharpe ratio units then people will die to talk to you. If you cannot take it from here then you may want to put a little more effort into your search if this is what you really want.

    b) yes and I guess you are one of those idiots cause you are taking this bs deal really serious!!!

    Sorry but I have worked too long in this business I am not even willing to argue with you about this, if you believe I am wrong then I respect your view but wont change mine.


     
    #29     May 6, 2011
  10. The best response to algodeal BS.

    Thanks

     
    #30     May 6, 2011