[deleted]
Renaissance Technologies
141–150 of 261 posts
Re: Renaissance Technologies
#142Earlier quoted context omitted.
Without getting into the validity of the gp’s post, RenTec does seem to recruit from NSA/CCR, particularly in the early days. Again, not saying this lends credence to the gp’s post, just adding an interesting bit of info.
A perfectly innocuous connection could be that intelligence community folks are good at ... drawing conclusions from intelligence? It makes sense to recruit spooks to analyze and interpret mounds of proprietary but legally-gathered intelligence then.
NSA's core competence is signals, largely making and breaking ciphers.
Intel analysis is more CIA/DIA.
My understanding is that this was generally true in the 1960s-70s as well. E.g., MINARET:
Re: Renaissance Technologies
#143Do they produce/create anything? or do they simply trade finacial assets in a way such that they accumulate profit?
and by "simply trade" I really mean "trade in an incredibly sophisticated and clever way"
Re: Renaissance Technologies
#144The tone of many comments here is disappointing. I'm really surprised at the number of people suggesting illegal activity. Why is it so hard to accept that someone did the math?
I should add that Renaissance Technologies is hiring! https://www.rentec.com/Careers.action My group is looking for very strong Java/Kotlin developers.
Would you consider applicants that started off with a bad GPA in math and computer science courses but then made significant improvements as they progressed?
Re: Renaissance Technologies
#145I have to say, the first time I read about Renaissance I felt sadness at the thought that this much ability and such resources were put into essentially making money out of thin air, with very limited (if any) social benefits. I can't escape the feeling that the world would be a better place if maths and physics phd's would get to live a good life doing maths and physics, rather than being lured into quant finance.
How do you feel about them working on nuclear bombs & working for the NSA? Cause for many years that was the standard way to live tr good life.
That is not the only possible alternative employment, though many would sugest it's both an accurate statement regards the past, and an undesirable alternative.
False dichotomy, regardless.
Re: Renaissance Technologies
#146Nobody really knows how RenTech makes their money. There have been some interesting data points over time, mainly through lawsuits where interesting tidbits of info were divulged. There are indications that the main rentech fund is a combination of high leverage and some potentially risky tax plays through structured products.
Correction: nobody who knows, if they've talked publicly, have been taken as seriously credible.
Someone, I suspect, knows.
Re: Renaissance Technologies
#147Earlier quoted context omitted.
I mean what is the end effect of this though? Basically some smart people get very rich. Due to zero-sum game, other people lose. No benefit is derived in the real economy. The only possible benefit is increased liquidity... which really isn't that beneficial past a point right? I don't see the benefit. If you have a different angle I'd be glad to hear it.
I generally agree that there are some really bad effects of funds like this. But wealth is not zero-sum.
Inequality is.
Thermodynamics has some interesting implications regards wealth.
Re: Renaissance Technologies
#148A 66% annualized return over 30 years - from a completely opaque investment strategy. Extraordinary result for sure, how did he do it? Run by Robert Mercer, the money man who associated with prominent money launderers. Based on my priors, Occams Razor says Rentech is a laundromat, not a hedge fund.
Strange that I had to scroll to the bottom of the page to see Mercer's name mentioned. I think is high time we stop idolizing companies that enable scum people like Mercer to make tons of money and to negatively influence the lives of millions.
Re: Renaissance Technologies
#149The tone of many comments here is disappointing. I'm really surprised at the number of people suggesting illegal activity. Why is it so hard to accept that someone did the math?
Some people have done economic history.
Re: Renaissance Technologies
#150I have to say, the first time I read about Renaissance I felt sadness at the thought that this much ability and such resources were put into essentially making money out of thin air, with very limited (if any) social benefits. I can't escape the feeling that the world would be a better place if maths and physics phd's would get to live a good life doing maths and physics, rather than being lured into quant finance.
How do you feel about them working on nuclear bombs & working for the NSA? Cause for many years that was the standard way to live tr good life.
working on nuclear or military technology is double-edged as it is serves both national security interests and advances technological knowledge.
Rentech is an absolute technology black box that will both take its money and knowledge into its grave with virtually no productive outcome for society at large.
The NSA and US nuclear science at least drives innovation.