Quant Hedge Fund Acrospire Shuts Down After Clients Pull Money Acrospire Investment Management, which uses machine learning to wager on and against stocks globally, is shuttering and returning its capital to clients, according to a Sept. 29 email to investors seen by Bloomberg News. The Chicago-based quant firm, which ran $350 million at its peak, saw assets sink by about two-thirds as investors asked for their money back following the fund’s poor 2015 and 2016 performance.
"Good group of guys." ....'Good'...what is this, a church group, You sound like a grandmother describing a little league team. A trader, or fund manager, could be a rapist...but if he's generating you a huge % return...then that's all that matters at the end of the day. He performed his function or purpose excellently for you. This world is not heaven, and you are not Mother Teresa.
I just meant to say that in a prior decade I had worked with some of the guys involved with this firm and it sucks to see so many strategies keeling over.
So much for Cramer's touting of "machine learning" and "AI"....as it pertains to trading. Both of these technologies are in their early stages...and nascient-at-best.