Title: The Man Who Solved the Market Pdf How Jim Simons Launched the Quant Revolution SHORTLISTED FOR THE FT & MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019
SHORTLISTED FOR THE FT AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019
'Reads more like a delicious page-turning novel...Put it on your holiday gift list for your favourite hedge-fund honcho' Bloomberg
Jim Simons is the greatest moneymaker in modern financial history. His record bests those of legendary investors, including Warren Buffett, George Soros and Ray Dalio. Yet Simons and his strategies are shrouded in mystery. The financial industry has long craved a look inside Simons's secretive hedge fund, Renaissance Technologies and veteran Wall Street Journal reporter Gregory Zuckerman delivers the goods.
After a legendary career as a mathematician and a stint breaking Soviet codes, Simons set out to conquer financial markets with a radical approach. Simons hired physicists, mathematicians and computer scientists - most of whom knew little about finance - to amass piles of data and build algorithms hunting for the deeply hidden patterns in global markets. Experts scoffed, but Simons and his colleagues became some of the richest in the world, their strategy of creating mathematical models and crunching data embraced by almost every industry.
As Renaissance became a major player in the financial world, its executives began exerting influence on other areas. Simons became a major force in scientific research, education and Democratic politics, funding Hilary Clinton's presidential campaign. While senior executive Robert Mercer is more responsible than anyone else for the Trump presidency, placing Steve Bannon in the campaign, funding Trump's victorious 2016 effort and backing alt-right publication Breitbart. Mercer also impacted the success of the Brexit campaign. For all his prescience, Simons failed to anticipate how Mercer's activity would impact his firm and the world.
In this fast-paced narrative, Zuckerman examines how Simons launched a quantitative revolution on Wall Street, and reveals the impact that Simons, the quiet billionaire king of the quants, has had on worlds well beyond finance.
Jim Simons built Medallion, the world's most successful hedge fund, ever. The Man who Solved the Market reads like a novel.Jim Simons built Medallion, the world’s most successful hedge fund ever, virtually pioneering Quantitative Investing, which was regarded as a radical idea at the time. Medallion's reliance upon massive amounts of data and computer driven decisions was the key . He was intrepid, focused, and was a man of extraordinary technical and managerial abilities, which enabled him to amass personal wealth of $23 billion, mainly out of the view of Wall Street. He created great teams and compensated them generously. Having his own money at risk was an inducement to investors, and his competitiveness probably accounted for a great deal of his achievements. Like Simons, his investors were richly rewarded investing with him.The author’s insightful narrative was particularly meaningful because of his extensive access to management, including Simons, which provided vital context for how Medallion was formed, grew and and flourished. Mr. Zuckerman makes the reader aware of the talents, personalities and struggles of each of the principles involved in building Medallion. There are plenty of lessons about how to manage a company from how Simons managed his.Today, Jim Simons’ approach is now more widely accepted in the investment community. There have been many attempts have to emulate him. Yet, no organization has matched his returns.Manuel H.Lazerov, PresidentInfrastructure Financial, Inc.Amazing Book! Far and away, the best book on finance or Wall Street that I have ever read. Probably the best biography I have ever read. It reads like a novel, I couldn't put it down! Jim Simons is quite the character that really comes to life. I knew how private he is so never thought I would learn anything about him or that he would "talk." Clearly, he opened up to Mr. Zuckerman in a way that he never has with anyone else. I most strongly recommend this book for anyone interested in math, finance, Wall Street or just a great biography. Truly a fabulous read.A riveting story of a mathematician who learned how to build a team A completely engrossing book you will find hard to put down. Jim Simons used applied math to build the greatest money-making machine in Wall Street history. But this is really a rich human story of how Simons built a team of fascinating and brilliant personalities.Along the way, Zuckerman also tells the story of the radical change in the investment world: “MBAs once scoffed at the thought of relying on a scientific and systematic approach to investing, confident they could hire coders if they were ever needed. Today, coders say the same thing about MBAs, if they think about them at all.”
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