(CNBC) If there ever were a sign of the times, it would be the hoard of hedge fund employees piling into Manhattan’s conservative Union League Club on a recent day to spend time soaking up information and contacts in one of the hottest facets of finance: quant.
Many of the attendees work at traditional funds, but stock-picking has fallen out of style, replaced by quantitative strategies that use numbers and computer algorithms to select stocks. These workers now feel compelled to understand the technology side of the business to survive.
