Richard Craib

8 statements across 1 episodes · 1 bullish · 1 bearish · 1 people on the record · first statement May 11, 2023 by Richard Craib · across every show →

On the record as a speaker too: Richard Craib's record, appearances and statements → this page counts the times other people say the name.

Everything said about Richard Craib, oldest first

May 11, 2023

Assertion Not checkable as stated

Craib: Numerai contributors lack traditional quantitative finance backgrounds

“Data science is not quant. None of these people were quants. None of them had any background in quant. They're just the types of people who can solve abstract problems to do with data.”

Richard Craib May 11, 2023 ▶ 14:26 Richard Craib – Crowdsourcing Data Science for Returns at Numerai (Capital Allocators, EP.314)

May 11, 2023

Disclosure

Craib: Numerai closed seed round the day personal savings ran out

“Turns out I spent that 250,000 dollars in about three months and ran out of money pretty much the day of first round seeding the company as with a venture investment from Howard Morgan and Bill Trenchard.”

Richard Craib May 11, 2023 ▶ 12:08 Richard Craib – Crowdsourcing Data Science for Returns at Numerai (Capital Allocators, EP.314)

May 11, 2023

Insight

Craib: Uncorrelated mediocre models help Numerai more than correlated good models

“If you make a mediocre model that's very uncorrelated, you can do particularly well. Because of its lack of correlation is actually helping Numeri more than a good model that's correlated with the one we already have.”

Richard Craib May 11, 2023 ▶ 30:28 Richard Craib – Crowdsourcing Data Science for Returns at Numerai (Capital Allocators, EP.314)

May 11, 2023

Disclosure

Craib: Numerai holds portfolio positions for three to four months

“We get the predictions sent to us now every day, but we only trade quite slowly. So we'll only turn over the portfolio quite slowly, minimizing our market impact. And we end up holding positions for three or four months.”

Richard Craib May 11, 2023 ▶ 26:00 Richard Craib – Crowdsourcing Data Science for Returns at Numerai (Capital Allocators, EP.314)

May 11, 2023 neutral

Insight

Craib: Markets require continuous crowdsourcing because they are never fully solved

“With a single model, you can get very high accuracy with that type of image detection. That's sort of like a solved problem. And therefore, why would you need to do crowdsourcing? That's a solved problem. But stock market is never solved. It's a permanent race…”

Richard Craib May 11, 2023 ▶ 41:53 Richard Craib – Crowdsourcing Data Science for Returns at Numerai (Capital Allocators, EP.314)

May 11, 2023 neutral

Insight

Craib: A 0.5% edge increase produces massive Sharpe improvements

“To go from 52 to 52 and a half is massive in terms of your Sharpe ratio returns, volatility. And so the fact is, it's just one of these industries where a tiny bit helps.”

Richard Craib May 11, 2023 ▶ 42:27 Richard Craib – Crowdsourcing Data Science for Returns at Numerai (Capital Allocators, EP.314)

May 11, 2023 positive

Insight

Craib: Millennium Management thrives by combining numerous uncorrelated strategies

“One of the reasons Millennium works is because they can get strategies that are uncorrelated, and that's what boosts the sharp. They have so many different strategies that are all uncorrelated, it's starts to become very hard to have a down year.”

Richard Craib May 11, 2023 ▶ 29:38 Richard Craib – Crowdsourcing Data Science for Returns at Numerai (Capital Allocators, EP.314)

May 11, 2023 negative

Insight

Craib: Short-term trading strategies lack the capacity to scale

“If you do short-term trading, your capacity is very low. So if you trade very frequently in very small stocks, you're moving the market a lot, and it's very hard to have a strategy that scales.”

Richard Craib May 11, 2023 ▶ 7:06 Richard Craib – Crowdsourcing Data Science for Returns at Numerai (Capital Allocators, EP.314)

Richard Craib

Everything said about Richard Craib, oldest first

Turn any episode into a week of clips.