The Man Who Solved the Market – Jim SimonsBrian Langis
A new book about the most successful money maker in the history of modern finance is out and it’s not about Warren Buffett. It’s about a guy named Jim Simons and his firm Renaissance Technologies. He started investing in his 40s and didn’t anything about the topic.
The book The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution by Gregory Zuckerman is released today. It’s one of those books that is highly anticipated. You can read and except from The Wall Street Journal here.
The book is a coup because Simons shuns the limelight and rarely gives interviews. It’s great that Gregory Zuckerman succeeded in getting Jim to talk. Rumors about his performance has swirl around for years but the real numbers are much higher than anyone anticipated.
Today, Mr. Simons is considered the most successful money maker in the history of modern finance. Since 1988, his flagship Medallion fund has generated average annual returns of 66% before charging hefty investor fees—39% after fees—racking up trading gains of more than $100 billion. No one in the investment world comes close. Warren Buffett, George Soros, Peter Lynch, Steve Cohen, and Ray Dalio all fall short.
Simons ranked second on Institutional Investor’s list of top-earning hedge fund managers in the world last year, and first the year before and the year before that, despite the fact that he retired in 2010.
For the occasion, I updated my links about Jim Simons and Renaissance Technologies in the resource section. I plan to read the book and post my notes when I get to it.
Jim Simons (Renaissance Technologies Corp.)
- Book: The Man Who Solved the Market
- How Jim Simons Built the Best Hedge Fund Ever (Bloomberg)
- The Making of the World’s Greatest Investor (WSJ)
- Jim Simons, the Numbers King (The New-Yorker)
- Billionaire Mathematician James Simons Flopped the First Time He Invested (Bloomberg)
- The Mathematician Who Cracked Wall Street (TED Talk)
- “World’s Smartest Billionaire:” James Simons is Cal Alumnus of the Year for 2016 (California Magazine)
- James Simons Interview – (Numberphile/Youtube)
- Dr. James Simons, S Donald Sussman Fellowship Award Fireside Chat (Youtube)
Article by Brian Langis