CHICAGO, Aug. 12, 2020 /PRNewswire/ -- Renaissance Technologies famed hedge fund, Medallion, along with other AI-driven funds including Citadel, D.E. Shaw and Two Sigma, are on the verge of facing off against a new generational hedge fund fueled by the latest alpha-learning AI technologies. The Project One hedge fund is the brainchild of Andrew Sobko and Rami Jachi and is described as a 100 percent model-driven, alpha-learning, AI algorithm designed to pinpoint market demand projections while actively applying real-time data analysis insights without human interruptions. The new hedge fund is being developed by Project One Capital.
The Project One hedge fund is built to fuel performance and provide resilience toward volatile markets due to global unrest or global pandemics that have roiled markets of late. The algorithm is designed with an alpha-learning AI model that continues to develop and apply all future predictive models without human involvement. Comparatively, traditional hedge funds rely on AI algorithms that become obsolete in a short period due to its need for human management in the process of how data is collected and analyzed.
"If you missed out on Medallion, don't miss Project One," says Andrew Sobko, CEO and Head of Business Development, Project One Capital. "We've removed the error-laden human component from this fund and employed an AI algorithm with alpha-learning capabilities toward market analysis that adapts and applies its projective models in real-time. With the sophistication of technology applied in this fund, other hedge funds must embrace AI or die."
One of the challenges facing the use of AI in hedge funds is the inability of human programmers to keep up with its speed and sophistication. The Project One hedge fund removes all human interaction and management, relying on the algorithm's alpha-learning and adaptive technologies.
"Through our study of praxeology, there is no guessing," said Sobko. "We are fully aware of the facts associated with human behavior and involvement, which is why we moved to eliminate the error-prone component from our proprietary algorithm."
The Project One hedge fund analyzes, projects, and applies volumes of direct and peripheral market industry data and acts in real-time without human interaction.
Corrections/Disclaimer On August 12, 2020, at 8:17 a.m. Eastern Time, Project One Capital LLC ("Project One") released a statement to PRNewswire via COMTEX (hereafter, the "August 12th Press Release") that requires the following corrections, retractions, and clarifications. All references to specific funds in the August 12th Press Release are retracted in their entirety and may be replaced with a general reference to "certain hedge funds utilizing AI." Although Project One reserves the right to sponsor, fund, or form a fund in the future, no such fund has been created or is yet in existence. Although it likely must do so before accepting investments from third parties, neither Project One (nor any affiliate) is currently registered as an investment advisor with the Securities Exchange Commission or any state agency. All references to prior specific investment returns in the August 12th Press Release are retracted in their entirety. Nothing in this or the August 12th Press Release constitutes an invitation, offer, solicitation or recommendation to engage in any investment activity including buying or selling any investment including any interest in any future fund that may, or may not, be related to Project One. Neither Project One nor any of its owners, employees, agents or affiliates, guarantees the performance or the future returns of any fund including funds that may utilize the proprietary technology referenced in the August 12th Press Release. Nothing contained within the August 12th Press Release or this Correction constitutes investment, legal, tax or other advice nor is it to be solely relied on in making an investment or other decision. It is not an invitation to make an investment in any fund nor does the information, recommendations or opinions expressed constitute an offer for sale of any existing or future fund. If and when Project One forms, advises and/or otherwise sponsors a fund in the future, potential investors should conduct their own investigation and analysis of the fund and consult its/their own professional tax, accounting, financial or other advisors as to the risks involved in making an investment. Potential investors should carefully consider the fund's investment objectives, risk, charges and expenses, as disclosed in a Prospectus, before investing. Project One will follow up with future events and progress as necessary going forward.
About Project One Capital Project One was created by international AI entrepreneur, Andrew Sobko, and AI/machine learning expert and quantitative data scientist, Rami Jachi. Project One's strategy aims to hedge general market risk and volatility, including recent global events that have sent markets into unprecedented, historical fluctuations. Learn more at www.projectonecapital.com.