Head of Private Investments, Vanguard
Neo Ivy Capital
It’s gotten harder to beat the market as index funds and passive investing have become more popular, but thanks to her knack for quantitative analysis and artificial intelligence, Renee Yao is trying to do just that.
After finishing her master’s in statistics at Columbia University and working at Citadel developing artificial intelligence and at WorldQuant as a portfolio manager, Yao founded her own firm, Neo Ivy Capital Management, in 2015.
The hedge fund uses machine learning and advanced quantitative analysis to trade global stocks, and is at the forefront of the strengthening ties between investing and automation.
"We have a completely different business model,” Yao told Institutional Investor in 2017. “Firms like WorldQuant hire researchers all over the world, then use them to generate alphas. But we’re researching neural network algorithms so those algos will train the computer and the machine will find the alphas for us. People need to rest and can’t work 24 hours a day, seven days a week. A computer can. Computers can work, generating ideas for us, nonstop.”