James Harris "Jim" Simons is a mathematician, academic, trader, and philanthropist.
For over two decades, Simons' Renaissance Technologies' hedge funds, which trade in markets around the world, have employed complex mathematical models to analyze and execute trades—many of them automated. Renaissance uses computer-based models to predict price changes in easily-traded financial instruments. These models are based on analyzing as much data as can be gathered, then looking for non-random movements to make predictions.
In 1982, Simons founded Renaissance Technologies Corporation, a private investment firm based in
Simons lives with his wife in
In 1976, Simons won the American Mathematical Society's Oswald Veblen Prize in Geometry, for work that involved a recasting of the subject of area minimizing multi-dimensional surfaces and characteristic forms..
In 1978, he left academia to run an investment fund that traded in commodities and financial instruments on a discretionary basis.
Renaissance employs many specialists with non-financial backgrounds, including mathematicians, physicists and statisticians. The firm's latest fund, the Renaissance Institutional Equities Fund (RIEF), is designed to handle upwards of $100 billion. RIEF has historically trailed the firm's more well-known Medallion fund, a separate fund that only contains the personal money of the firm's executives
In 2006 Simons was named Financial Engineer of the Year by the International Association of Financial Engineers. In 2007 he was estimated to have personally earned $1.7bn.
In a statement released to shareholders, the fund announced it had sustained losses of up to 7% in the wake of the 2007 Subprime mortgage financial crisis but managed to end the month of August with a positive performance of +0.7%
Adam Heathcote can get a job
ReplyDeleteat Renaissance Technologies
they pay starting salary of
125K$ but than again Adam
does not need a job.
great article!
Jim