The title is click-baity because we're supposed to say, "oh, there's someone old and not in hedge funds getting into it, he must have some crazy cool thing he's going to do."
Except, if he was employed by one of the top hedge fund management firms, none of that impression is true. So, click bait and misleading.
Some Hacker News "title police" who thinks it's more accurate to simply say "former hedge fund employee" is simply wrong. There are millions of former hedge fund employees.
Why can't people add real value to the conversation or say nothing? Understanding how the trading algorithms work, for example, would be interesting.
> It is Mr. Zweig’s first foray into the hedge-fund world since leaving the famously secretive and profitable quantitative hedge-fund firm Renaissance Technologies LLC in 2010. He agreed when he left not to compete against Renaissance for four years.
later,
> Mr. Zweig first turned to hedge funds as an investor while amassing a nest egg for his disabled daughter. In 2003, he interviewed for a job with East Setauket, N.Y.-based Renaissance, founded by former Cold War code breaker James Simons. Renaissance has achieved near-mythical status for the performance of its Medallion fund, which has averaged returns of more than 35% a year since the late 1980s through 2010.
> After seven years at Renaissance, where he said he developed a system that allowed the firm to trade certain instruments for the first time, Mr. Zweig signed the noncompete agreement with Renaissance. Renaissance declined to comment.
For the last 12 years he's been in the world of hedge funds. It's not like he's coming off theorizing the quark and saying "let's try this hedge thing". Indicating his expertise would have been more factual.
It would also have made the link less interesting to click on WSJ's home page. I don't fault WSJ for getting clicks, but lets call it what it is, yeah?
Except, if he was employed by one of the top hedge fund management firms, none of that impression is true. So, click bait and misleading.