[Bloomberg Markets] BigDataFr recommends: BlackRock’s Robot Stock-Pickers Post Record Losses

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BigDataFr recommends: BlackRock’s Robot Stock-Pickers Post Record Losses

[…] Like so many fund titans these days, Laurence D. Fink is betting on machines to turn around BlackRock Inc.’s beleaguered stock-picking business.

Trouble is, they just might have made things worse.

BlackRock’s main quantitative hedge-fund strategies — which use computer models to sort through vast amounts of data to pick out patterns — were on track for losses in 2016, according to a monthly client update sent out in late December. Of the five included, four were set for their worst returns on record, data through November showed. A separate investor presentation with a broader quant lineup showed that almost two-thirds underperformed. […]

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By Sabrina Willmer
Source: bloomberg.com

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