About Us

INSPIRATION INNOVATION DEDICATION

• Transfer leading edge science and technology into investment strategies
• Structure portfolio construction through in-depth research and advanced quantitative analysis in mathematics and statistics
• Deploying innovative techniques including machine learning, Natural Language Understanding (NLU) and high performance parallel computing

REINFORCEMENT
​​LEARNING DEMO

A good trader is characterized by making good decisions with all the information from the market, and it usually takes years to learn. Can a computer model achieve the same feat, namely, to digest a massive amount of input data, and then make decisions to maximize the future reward?......​

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HAND WRITING
RECOGNITION DEMO

​Neural Network (NN) is a specific architecture of machine learning, that has shown great successes in fields such as computer vision, speech recognition. Such advances are largely due to the availability of large amounts of data, as well as the rapid increase of computational powers......​

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ANN DEMO

Artificial Neural Networks (ANNs) is a technique for building a computer program that learns from data. It is based very loosely on how we think the human brain works.
​First, a collection of software "neurons" are created and connected together, ......​

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CHATBOT DEMO

A chatbot can be seen as an computer program which simulate and process human conversation. One of the widely used chatbot program is the GPT-3 (Generative Pretrained Transformer 3) model developed by openAl. The GPT-3 model is an auto-regressive model ......​

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12 Lessons Learned

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12 Lessons Learned

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12 Lessons Renee Yao Learned from Experience at Citadel/Millennium and Neo Ivy

• Never Blame the Market—The market is never wrong but provides valuable lessons for improvement. By blaming the market, one loses out on the ability to improve the model.
• Research should be focused on Causative data not Associative aka Leading vs Lagging Indicators.
• Back-tests are not reliable as the data used can be associative rather than causative leading to overfitting.
• Avoid Data Mining/Data Snooping—test of any Quant strategy is if it is profitable out of sample (everything works in sample) after transaction costs.
• Dynamic Risk Allocation/Bet Sizing is a hugely important feature in adding alpha and convexity.
• Leverage can be your friend if what is being leveraged has positive Convexity.
• Control Bet Sizes-Take a large # of small bets as opposed to a small # of Large bets. This reduces the probability of large drawdowns, risk of ruin and a left tail distribution.
• The Law of Large Numbers is Your Friend—like the casino's edge that is profitable over large sample sizes, small sample sizes can be as much randomness as skill but over longer data points, randomness diminishes, and skill emerges.
• Risk Management, Risk Management, Risk Management is everything! The Law of Large Numbers only works if bet size is limited( losses limited) and there is no risk of ruin. Stay in the game to allow the skill of the strategy to offset randomness/noise.
• The less the return stream is comprised of betas, risk premium, common factors, the more Valuable and stable the return stream is. It isn't the highest return that a HF should be seeking, it should be the Highest Return without beta, factors, style, sector influences which is the raw definition of true alpha.
• One only needs a small edge played frequently with controlled bet sizes and positive skew/right tail to produce compelling market neutral returns.
• As Steven Spielberg once said, "The key to Directing is Casting". Your investment team culture/chemistry/competence/incentive compensation will make or break the business.

DISCLAIMER:

The information contained herein does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product. Any such offer or solicitation may only be made to accredited investors by means of delivery of an approved confidential offering memorandum and only in those jurisdictions, where permitted by law. The information contained herein does not take into account the particular investment objectives or financial circumstances of any specific person who may receive it. All information contained herein is confidential. This document may not be disclosed, distributed, or reproduced without the prior written consent of Neo Ivy Capital Management LLC (the “Manager”). This document is subject to revision at any time and the Manager is not obligated to inform you of any changes made.

Our investment program involves substantial risk, including the loss of principal, and no assurance can be given that our investment objectives will be achieved.

This material is for informational purposes only. Certain information is based on data provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed and should not be relied upon as such.

PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. NO ASSURANCE CAN BE MADE THAT PROFITS WILL BE ACHIEVED OR THAT SUBSTANTIAL LOSSES WILL NOT BE INCURRED.

NOTICE TO RECIPIENTS

THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE. This document has been prepared by NEO IVY and is not intended to be (and may not be relied on in any manner as) legal, tax, investment, accounting or other advice or as an offer to sell or a solicitation of an offer to buy any securities of any investment product or any investment advisory service. The information contained in this document is superseded by, and is qualified in its entirety by, such offering materials. This document may contain proprietary, trade-secret, confidential and commercially sensitive information. U.S. federal securities laws prohibit you and your organization from trading in any public security or making investment decisions about any public security on the basis of information included in these materials.

THIS DOCUMENT IS NOT A RECOMMENDATION FOR ANY SECURITY OR INVESTMENT. References to any portfolio investment are intended to illustrate the application of NEO IVY’s investment process only and should not be used as the basis for making any decision about purchasing, holding or selling any securities. Nothing herein should be interpreted or used in any manner as investment advice. The information provided about these portfolio investments is intended to be illustrative and it is not intended to be used as an indication of the current or future performance of NEO IVY’s portfolio investments.

An investment in a Fund entails a high degree of risk, including the risk of loss. There is no assurance that a Fund’s investment objective will be achieved or that investors will receive a return on their capital. Investors must read and understand all the risks described in a Fund’s final confidential private placement memorandum and/or the related subscription documents before making a commitment. The recipient also must consult its own legal, accounting and tax advisors as to the legal, business, tax and related matters concerning the information contained in this document to make an independent determination and consequences of a potential investment in a Fund, including US federal, state, local and non-US tax consequences.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS OR A GUARANTEE OF FUTURE RETURNS. The performance of any portfolio investments discussed in this document is not necessarily indicative of future performance, and you should not assume that investments in the future will be profitable or will equal the performance of past portfolio investments. Investors should consider the content of this document in conjunction with investment fund quarterly reports, financial statements and other disclosures regarding the valuations and performance of the specific investments discussed herein.

DO NOT RELY ON ANY OPINIONS, PREDICTIONS, PROJECTIONS OR FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. Certain information contained in this document constitutes “forward-looking statements” that are inherently unreliable and actual events or results may differ materially from those reflected or contemplated herein. NEO IVY does not make any assurance as to the accuracy of those predictions or forward-looking statements. NEO IVY expressly disclaims any obligation or undertaking to update or revise any such forward-looking statements. The views and opinions expressed herein are those of NEO IVY as of the date hereof and are subject to change based on prevailing market and economic conditions and will not be updated or supplemented.

EXTERNAL SOURCES. The data points and other information regarding the companies discussed herein are from research sources and tools believed to be reliable, including public company filings. Although NEO IVY believes the information from such sources to be reliable, NEO IVY makes no representation as to its accuracy or completeness.

THIS DOCUMENT IS NOT INTENDED FOR GENERAL DISTRIBUTION AND IT MAY NOT BE COPIED, QUOTED OR REFERENCED WITHOUT NEO IVY’S PRIOR WRITTEN CONSENT.