Can Collective Intelligence Beat the Market? (with Numerai’s Richard Craib)
Quantitative hedge funds, which rely on the work of employed mathematicians to develop complex trading strategies, are nothing new. But what if the mathematical work is outsourced to anyone, via a contest where the best predictions are rewarded with cryptocurrency? Richard Craib, founder of Numerai, explains to Azeem Azhar how his $70 million fund uses collective intelligence to perform well, despite the turmoil in the markets.