Why Data Nerds Struggle to Gain Power at Hedge Funds

I'd like some perspective on this. Are "data nerds" (i.e. scientists) marginalized in finance because of cultural differences with the incumbent traders, because expectations are unreasonably high, or because most quants' models aren't significantly better than the trained intuition of their bosses? Why is it so hard to get trading firms to put engineering high on their list of priorities?

Not surprising at all. What's needed are quants that can or understand trade. A rare breed. And even they sometimes throw in the towel like NN Taleb in 2003. When I started to use quant algos in prop trading I was first met with ridicule, then curiosity, then respect and finally with fear. Not always fun.

I've noticed this issue firsthand - not just at hedge funds but also at big banks and smaller financial firms. For all the talk and chatter about blockchain, electronic payments, robo-advisors... technology still has long ways to go to revolutionize and democratize access to markets, data, trading, etc..