> THe biggest issue I see for a quantopian fund is the "skin in the game" rule. All of the successful fund managers I know have a very unhealthy portion of thei

> THe biggest issue I see for a quantopian fund is the "skin in the game" rule. All of the successful fund managers I know have a very unhealthy portion of their net worth in their own funds. I feel like there's a very large survivor bias here. How many managers with unhealthy amounts of money in their funds lost it all? Having some money in your own funds certainly aligns manager interests with investors. It can, however, also lead to biased decision making by the manager. Not having skin in the game can actually lead to more rational decision making, and long-term success. I don't have any numbers to back this up (though I think studies have been done), but on the other hand, neither did you :P.