David Rosenthal: belief

Transcript context

…Wouldn’t have spun it out. Once Ax and Straus get out to California, Straus is on the computing data infrastructure side. That’s what he was doing at Stony Brook, and that’s what he came into Renaissance to build. He starts getting really into data, and he starts collecting intraday pricing movements on securities. At this point in time, I think really the best data you could get from providers out there was maybe open and close data on securities pricing. Straus finds a way to get tick data, like every 20 minute data on these securities throughout the day. Not only that. He’s getting historical data that predates what your traditional data providers would give you, then ingesting it into computers and cleaning the data to get it into the same format as the tick data. He’s getting early 1900 even 1800 stuff to try to just say at some point, hopefully we’ll be able to make use of this, and I want to have this just really, really clean data set about the way that these markets interact.…

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