Creating The World's Biggest Hedge Fund with Richard Craib

Creating The World's Biggest Hedge Fund with Richard Craib

Richard Craib is on the podcast this week to discuss how he and his company are building the last hedge fund—Numerai. Richard has found that virtually all hedge funds today are continuously duplicating research and strategies. This lack of originality leads to less than stellar performance, and makes it difficult for new funds with original ideas to emerge. Numerai is built to solve this problem, as it's the first hedge fund to source original stock market signals, built from any data set from anyone in the world with zero barriers. 

In this episode, Nick and Richard dive deep to discuss how Numerai uses weekly tournaments to gather data and better predict market trends. Users submit their signals, get immediate feedback on their originality, stake their submission with the NMR cryptocurrency, and then get paid for the quality and originality of their signal. It's a complicated process, but it's helping to create the world's largest and most original hedge fund—as well as generating significant wealth for users who can submit the best signals.

Richard Craib - Founder and CEO of Numerai

Richard Craib

Founder & CEO

Richard Craib is the founder and CEO of Numerai, a hedge fund built by a network of data scientists. Previously, Craib was a data scientist at an asset management firm with $15 billion under management. He has a degree in pure mathematics with a focus on abstract algebra at Cornell University.

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Leverage’s Founder and CEO, Nick Sonnenberg, is the host of the Leverage Podcast. With a background in data science, high-frequency algorithmic trading and business efficiency consulting, Nick has an innovative mind and is obsessed with learning from the people around him. Join him each week as he interviews fellow entrepreneurs, thought leaders, and leading experts to discuss everything from marketing secrets to new technologies to life as an entrepreneur.