“If Molinero is right, then Michal Galas became a quant a long time ago. For his PhD, Galas is building what he calls an ‘adaptable algorithm trading portfolio’ – a production line of automated trading strategies, from which computers will select the most appropriate one, depending on what is happening in a particular market. Algorithms upon algorithms upon algorithms. Galas imagines it as a hedge fund without employees. ‘There is no human intervention necessary,’ he said.”

