The CEO of an AI-powered hedge fund that gained as other computer-driven strategies melted down explains why tried-and-true quant models have become irrelevant

Toronto-based hedge fund Castle Ridge Asset Management made 2.6% in March when well-known quants like Bridgewater, Renaissance Technologies and Schonfeld Strategic Advisors were slammed. 
The hedge fund, which is run by an AI program named Wallace, does not model or forecast for potential outcomes to market events like earnings, the firm's executives tell Business Insider.
Instead, the system immediately reacts to a huge range of data in real time.
This practice, known as "now-casting", has