Weekend Reads: Horse-Racing Code

The price of admission is at least $25 million.

Inside the World’s Most Elite (and Secret) Traders’ Club – (Bloomberg)

 

The coffee market is struggling under a “big short” created by hedge funds that have built up record bearish positions.

Coffee market struggles under ‘big short’ position – (FT)

 

The ICE U.S. Dollar Index DXY, +0.16%  rose 0.2% to 92.612, trading around its highest level since early January. The index was on track for a 1.2% weekly gain, which would mark a third straight week of advances.

Dollar springs higher as traders look past mixed April jobs report – (MarketWatch)

 

While a classic trend follower may look at the chart below and see a good trade, sophisticated investors understand that there are actually TWO trades going on for managed futures in a rising interest rate environment.

The Silver Lining in Rising Interest Rates — (RCM’s Attain Alternatives Blog

 

The bank is so satisfied with the test results that it wants to decide on further assignments by the end of May.

How Five Robots Replaced Seven Employees at a Swiss Bank – (Bloomberg)

 

The Vix index, a measure of market volatility nicknamed Wall Street’s “fear gauge”, surged more than 10 per cent in the space of a few minutes on Wednesday morning, around the time of a monthly auction that sets the price of derivatives tied to the index.

VIX Index Surge Revives Manipulation Concerns – (FT)

 

The eruption of Kilauea volcano has sent lava flowing into residential areas on Hawaii’s Big Island, with residents ordered to abandon their homes. Hundreds of small earthquakes preceded the eruption

Hawaii’s Kilauea volcano erupts – in pictures – (The Guardian)

 

US pension started wave of allocations to CTA strategies in mid-2015

GAM Systematic Cantab wins $200m Illinois Teachers mandate – (CTA Intelligence)

 

It turns out that less than 10 percent of United States portfolio managers at mutual funds and exchange-traded funds are women, according to Morningstar.

Who Runs Mutual Funds? Very Few Women – (The New York Times)

 

Bill Benter did the impossible: He wrote an algorithm that couldn’t lose at the track. Close to a billion dollars later, he tells his story for the first time.

The Gambler Who Cracked the Horse-Racing Code – (Bloomberg)

 

And if the horse in the next stall isn’t a half-brother, he’s definitely some kind of cousin.

 Nearly Half The Kentucky Field is Racing Against a Half-Brother — (FiveThirtyEight)

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