Re: Codebreaker Makes $2.8B in a Year

On Wed, Apr 16, 2008 at 8:38 PM, coderman wrote:

On Wed, Apr 16, 2008 at 8:00 PM, John Young wrote:

...

... "James H. Simons, a gambler and quant fund derivative facade code maker who uses complex computer models to trade, earned $2.8 billion. His flagship Medallion fund returned 73 percent."

and next year (or maybe the one after that, or ... you get the idea) ... he blows up. viva las vegas!

well, it didn't even take that long: " The current turmoil will likely lead to consolidation of the industry, with experts predicting the death of more than 1,100 funds this year. The ones that remain are likely to be mega funds with stronger balance sheets and the best fund managers. But the scale of the shake-up is reflected in the fact that even the largest players with over US$30 billion each in assets are wobbling. Examples include ... Renaissance Technologies, with a nearly 15 per cent decline... " http://www.straitstimes.com/Breaking%2BNews/Money/Story/STIStory_285800.html (James H. Simons == Renaissance Technologies)