“The advantage scientists bring into the [investing] game is less their mathematical and technical ability than their ability to think scientifically.”
—James Simons, founder of Renaissance Technologies
[Q]uants are forced to think deeply about many aspects of their strategy that are taken for granted by nonquant investors. Why does this happen? Computers are obviously powerful tools, but without absolutely precise instruction, they can achieve nothing…. You can’t tell a computer to “find cheap stocks”. You have to specify what “find” means, what “cheap” means, and what “stocks” are.
—Rishi K Narang