Codebreaker Makes $2.8B in a Year

[coderman]

On Wed, Apr 16, 2008 at 8:38 PM, coderman <coderman at gmail.com> wrote:
> On Wed, Apr 16, 2008 at 8:00 PM, John Young <jya at pipeline.com> 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)