Is there another quant quake like we saw this summer quivering beneath the surface? "....The reversal might have been started by a “garbage rally” in heavily shorted stocks, but some think that it might have been exacerbated by one of the biggest new trends in quant investing: the growing overlap between market-making trading firms such as Citadel Securities, Hudson River Trading or Jane Street, and big hedge funds such as DE Shaw, Millennium, Point 72 or Qube Research & Technologies. Some in the industry are sceptical that this increasing overlap was a factor in the July “quant quiver”, pointing out that the strategies that were the worst hit were mostly longer-term ones, rather the those using quicker signals, where competition is becoming more ferocious. Nonetheless, both proprietary trading firms and hedge funds concede that two industries — that for years virtually operated in separate worlds — are now starting to come together...." @FlyEaglesFly529