For a man whose flagship hedge fund is running on fumes,
Marek Fludzinski couldnt be calmer. The founder and CEO
of New Yorkbased Thales Fund Management has watched his
firms assets plummet by more than $1 billion during the
past year, as Thales, like most quantitative managers, has
suffered as a result of the global credit crisis that began
last summer. But Fludzinski, who has a Ph.D. in theoretical
physics from Princeton University and was one of the first two
dozen employees at famed quant shop D.E. Shaw Group, is on a
mission that means far more to him than profit and loss. He
believes science is the key to unlocking the inner workings of
the markets, and he intends to devote significant resources to
I think there is a law tying everything together,
says Fludzinski, 52.
Science, however, didnt much help Fludzinski last
summer, when the onset...