Leroy N. Soetoro
2024-05-16 03:05:27 UTC
https://www.nytimes.com/2024/05/10/business/dealbook/jim-simons-dead.html
Jim Simons, the prizewinning mathematician who abandoned a stellar
academic career, then plunged into finance a world he knew nothing about
and became one of the most successful Wall Street investors ever, died
on Friday in his home in Manhattan. He was 86.
His death was confirmed by his spokesman, Jonathan Gasthalter, who did not
specify a cause.
After publishing breakthrough studies in pattern recognition, string
theory and a framework that combined geometry and topology with quantum
field theory, Mr. Simons decided to apply his genius to a more prosaic
subject making as much money as he could in as short a time as possible.
So at age 40, he opened a storefront office in a Long Island strip mall
and set about proving that trading commodities, currencies, stocks and
bonds could be nearly as predictable as calculus and partial differential
equations. Spurning financial analysts and business school graduates, he
hired like-minded mathematicians and scientists.
Mr. Simons equipped his colleagues with advanced computers to process
torrents of data filtered through mathematical models, and turned the four
investment funds in his new firm, Renaissance Technologies, into virtual
money printing machines.
Medallion, the largest of these funds, earned more than $100 billion in
trading profits in the 30 years following its inception in 1988. It
generated an unheard-of 66 percent average annual return during that
period.
That was a far better long-term performance than famed investors like
Warren Buffett and George Soros achieved.
--
We live in a time where intelligent people are being silenced so that
stupid people won't be offended.
Durham Report: The FBI has an integrity problem. It has none.
No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Officially made Nancy Pelosi a two-time impeachment loser.
Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.
Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.
President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.
Jim Simons, the prizewinning mathematician who abandoned a stellar
academic career, then plunged into finance a world he knew nothing about
and became one of the most successful Wall Street investors ever, died
on Friday in his home in Manhattan. He was 86.
His death was confirmed by his spokesman, Jonathan Gasthalter, who did not
specify a cause.
After publishing breakthrough studies in pattern recognition, string
theory and a framework that combined geometry and topology with quantum
field theory, Mr. Simons decided to apply his genius to a more prosaic
subject making as much money as he could in as short a time as possible.
So at age 40, he opened a storefront office in a Long Island strip mall
and set about proving that trading commodities, currencies, stocks and
bonds could be nearly as predictable as calculus and partial differential
equations. Spurning financial analysts and business school graduates, he
hired like-minded mathematicians and scientists.
Mr. Simons equipped his colleagues with advanced computers to process
torrents of data filtered through mathematical models, and turned the four
investment funds in his new firm, Renaissance Technologies, into virtual
money printing machines.
Medallion, the largest of these funds, earned more than $100 billion in
trading profits in the 30 years following its inception in 1988. It
generated an unheard-of 66 percent average annual return during that
period.
That was a far better long-term performance than famed investors like
Warren Buffett and George Soros achieved.
--
We live in a time where intelligent people are being silenced so that
stupid people won't be offended.
Durham Report: The FBI has an integrity problem. It has none.
No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Officially made Nancy Pelosi a two-time impeachment loser.
Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.
Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.
President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.