The Algorithm Behind Jim Simons's Success
alchemy.substack.com
The Algorithm Behind Jim Simons's Success
Jim Simons: "My algorithm has always been: you get smart people together and you give them a lot of freedom. Create an atmosphere where everyone talks to everyone else. Provide the best infrastructure. And make everyone partners. That was the model that we used in Renaissance." https://t.co/SQnivhQlET
Frederik Gieschenx.com
At 40, Jim Simons left a famed math career to launch the most successful hedge fund ever: Renaissance Tech.
Even though it only won 51% of trades, the fund made 66%/yr for 30yrs (Simons worth = $25B). It's a story of genius, but also of how hard it is to beat markets.
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Jim Simons's five principles (RIP):
“Be guided by beauty. Just as a great theorem can be very beautiful, a company that’s really working very well, very efficiently, that can be beautiful.
Surround yourself with the smartest and best people you possibly can. Let them do their thing. Don’t... See more
Frederik Gieschenx.com