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By 2000, the computer-driven Medallion fund had an average annual return of 34% after fees from its 1988 inception. [35] Simons ran Renaissance until his retirement in late 2009. [ 14 ] Between January 1993 and April 2005, Medallion only had 17 losing months and out of 49 quarters over the same period, Medallion had only three losing quarters.
Due to the long-term aggregate investment returns of Renaissance and its Medallion Fund, Simons was described as the "greatest investor on Wall Street", and more specifically "the most successful hedge fund manager of all time". [5] [6] [7] Simons was known for his studies on pattern recognition. [8]
Jim Simons, the legendary "Quant King" who founded Renaissance Technologies, died Friday at the age of 86, after forever changing Wall Street with his genius for math and finding patterns in data.
Renaissance's main fund, Medallion, earned 39% per year on average from 1989 to 2006. [6] A bipartisan Senate panel estimated in 2014 that Medallion investors underpaid their taxes by some $6.8 billion over more than a decade by masking short-term gains as long-term returns. [20] [21] As of 2014, Renaissance managed $25 billion in assets. [2]
Despite COVID-19's devastating impact, one legendary stock picker might have just cracked the market code. While the broader market tumbled, investing firm Renaissance Technologies and its founder ...
James “Jim” Simons, a renowned mathematician and pioneering investor who built a fortune on Wall Street and then became one of the nation's biggest philanthropists, has died at age 86. The ...
The hedge fund he created, which eventually became known as Renaissance Technologies, pioneered the use of mathematical modeling — also known as quantitative trading — to pick stocks and other investments. The approach was wildly successful, helping Simons and his wife build over the years an estimated net worth of more than $30 billion.
Laufer co-founded the Medallion Fund with Jim Simons in 1988. [5] Laufer served as chief scientist and vice president of research at Renaissance Technologies, its parent company. [6] He now serves on its board of directors. [6] Laufer earned US$125,000,000 in 2008, during the financial crisis of 2007–2008. [7]