Hedge Funds

Williscroft helps develop GPS alternative

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Jason Williscroft's Chicago-based team at Hot Quant LLC, made up of former engineers and rocket scientists, is engaged in an unusual business venture. The group, whose members formerly ran the Farragut funds - likely to launch a new equity-focused quant strategy next year - is currently using its mathematical prowess to develop an alternative to global position satellite technology, the current standard used by government, military and commercial aircraft and boats. The idea is to provide a back-up for GPS systems, which have been known to become less reliable under certain weather conditions or during periods of heavy