How important is data science/coding in fundamental hedge funds nowadays?
Heard and read a lot about using data/coding in hedge funds and there seems to be a lot of hype on "quantamental". I wonder if it's a required skill and do fundamental analysts actually use coding on a day to day basis for either L/S or MM?
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bump
I think it varies a lot but it's becoming more important broadly speaking. The big MM firms have entire groups dedicated to providing data science support to PMs. As a PM/fundamental analyst most of the heavy lifting coding wise would have been done by the data science team. They would just provide their findings from the data and analyst/PM will decide whether or not to use it.
Big single manager shops are also starting to hire heads of data science. I've interviewed for a few data science roles at fundamental L/S equity funds and my impression is that they're mostly doing pretty basic stuff nothing crazy. Analysts won't use a complicated mathematical model they don't understand.
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