One of the biggest names in quantitative investing has warned against handing over investment decisions to artificial intelligence, arguing that some corners of the hedge fund industry have gone too far in adopting the technology.
Martin Lueck, who was one of the three founders of quant pioneer AHL and is co-founder and president of hedge fund Aspect Capital, said that being able to understand exactly why its computer models were recommending trades was crucial for his firm.
“My starting place is I’m not going to put my name on or my company’s reputation on something [where] . . . I have no idea why it took these positions,” said Lueck, whose firm manages $9bn in assets, in an interview with the FT.
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