In a huge piece on SAC Capital, the magazine Absolute Return – Alpha has an interesting story about QuantZ Capital, a hedge fund that recently sent legal notice to a former employee who now works for SAC Capital.According to the magazine, Prasad Chalasani made his employers suspicious after he spent his first day digging through QuantZ’s system rather than getting to know people.
Apparently, as soon as he got there, he began immediately “probing the inner workings of QuantZ’s proprietary quant programs.”
People started talking and calling around trying to find out more about this guy. All they knew was that Chalasani is a former robotics professor who used to work for WorldQuant, subsidiary of hedge fund Millennium.
Now, we can think of a totally innocent explanation for this. It really shouldn’t be all that surprising that a former robotics professor quant spends his first day at work delving into the technical systems rather than socializing. Quants aren’t exactly known for excellent social skils. Many have almost Apsergers tendencies and feel far more comfortable with code than co-workers.
But at QuantZ, people thought something was off.
(This photo isn’t definitely him, by the way, but the pictured Prasad Chalasani is a portfolio manager running quant/statistical trading strategies, so we’re guessing it is the same guy.)
The rumour mill generated suspicions that he had actually taken a job with SAC. But before anything else happened, he didn’t show up for the second day.
He just left, never to be heard from again.
Absolute Return says no one at SAC would confirm that he worked there, but they were put through to his desk when they asked to speak with him.
Now QuantZ has sent Chalasani legal notice and we will have to wait.