David Weisburd

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You said that probability theory was your first love.

And you ran a blackjack team when you were at Stanford.

What did you learn about that?

And how does that relate to how you do public investing today?

Most famously, long-term capital management had what they believe this risk-free arbitrage, and they hadn't thought about all the second order effects of it.

And ultimately, the fund blew up because of Russia and the divergence in pricing.

How do you go about looking at your risk and assessing where your trade might go wrong?

And the catch-all solution for that risk management is position sizing.

So even if it blows up and even if you have 10%, maybe you lose 2%, 3%.

So you don't have to know how it'll blow up to size it correctly and to keep your entire portfolio from getting ruined.

One of the hardest things of investing is seeing what's shifting before everyone else does.

For decades, only the largest hedge funds could afford extensive channel research programs to spot inflection points before earnings and to stay ahead of consensus.

Meanwhile, smaller funds have been forced to cobble together ad hoc channel intelligence or rely on stale reports from sell-side shops.

But channel checks are no longer a luxury.

They're becoming table stakes for the industry.

The challenges has always been scale, speed, and consistency.

That's where AlphaSense comes in.