191–200 of 338 posts
Archive link for original article: https://archive.ph/zIx9b Simons also funded Quanta magazine: https://www.quantamagazine.org/about/ His Wikipedia page is interesting: https://en.wikipedia.org/wiki/Jim_Simons_(mathematician)
thank you, the page renders empty for me.
What a loss. I hope I join the community in wishing the best for his loved ones. But also what a life. He could have quit 10, 20, 30, 40, 50 years ago and been in the history books. What’s now called Chern-Simons is a monumental result in topology that IIRC dates to the mid-60s. Then he empirically disproved the strong-form EMH, a result in economics of which I’m unaware of any peer in its conclusiveness. Then he bui…
Not clear as we do not really know exactly how RenTech works. It is believed that there are substantial tax loopholes that were taken advantage of - which would go a long way (not all the way) to explaining the incredible performance of his fund.
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While mister Simons might not be the best example, I sometimes feel that you can easily beat the market if you are well connected and have access to information that can move the markets before anyone else. For example how much know-how do you need to beat the market if you're a US senator? You know before anyone else what's going to happen regarding policy and can plan accordingly. There were rumours about this even…
"There are 3 ways to make a living in this business: be first, be smarter or cheat" - Margin Call
Will be interesting to see how this affects math research. He has pumped unthinkable amounts of money into the field. The only first-class flights I've taken in my life were to get to Simons-funded conferences at super fancy hotels. (I found these conferences a bit ridiculous, but the luxury treatment did ensure that they could get together a lot of the biggest names in the field in one place.) Besides the conference…
Been a mathematician, he also funds physics. See Simons Observatory that studies Cosmic Microwave Background.
[1] https://perimeterinstitute.ca/news/new-simons-foundation-sup...
The reality is that most extremely wealthy people are very far on the right tail of intelligence. People exist that can predict the market, they are just very rare.
While mister Simons might not be the best example, I sometimes feel that you can easily beat the market if you are well connected and have access to information that can move the markets before anyone else. For example how much know-how do you need to beat the market if you're a US senator? You know before anyone else what's going to happen regarding policy and can plan accordingly. There were rumours about this even…
There are tons of strategies out there that does not involve insider trading or fraud. One such example is simply shorting Bitcoin at the market open whilst going long QQQ. This has paid a lot , like today , in which Bitcoin is down 3% and QQQ down a tad. There are people running this strategy now which despite being public knowledge, is still profitable. Shorting bitcoin during market hours, in fact, realizes all of the downside of Bitcoin without the upside from shorting it.
There are other strategies like this. now imagine you assemble the greatest minds in the world and tons of computing power to find many strategies and run them 24-7.
Earlier quoted context omitted.
While mister Simons might not be the best example, I sometimes feel that you can easily beat the market if you are well connected and have access to information that can move the markets before anyone else. For example how much know-how do you need to beat the market if you're a US senator? You know before anyone else what's going to happen regarding policy and can plan accordingly. There were rumours about this even…
Whether it’s a scam or not, I’ve seen a couple .onion sites for trading insider knowledge. You have to tell something to get in. Beating the S&P 500 is difficult and there are now zero fee funds to mimic it.
The reality is that most extremely wealthy people are very far on the right tail of intelligence. People exist that can predict the market, they are just very rare.
Sometimes people act like guys like Bill Gates or Elon Musk are coming from deep personal scientific knowledge and accomplishment, but they're absolutely nothing compared to Simons. His contributions to geometry in the 60s and 70s, from minimal surfaces to Berger's classification of special holonomy to Chern-Simons theory, were fundamental and are still well-remembered. His name would be known even if he'd never gone…
The reality is that most extremely wealthy people are very far on the right tail of intelligence. People exist that can predict the market, they are just very rare.
> People exist that can predict the market, they are just very rare. It's not hard to predict the market. It's hard to beat the market. I can very easily predict that Tesla will continue to lose share price (as one example). I cannot use that prediction to make money. As they say, "It's Priced In"
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Big funds usually dont try to beat the market, they try to dampen volaility while tracking the S&P 500
even small funds, this was the investment thesis at the hedgefund that my dad worked for circa 2006-2008. they promised super dampened volatility but, as you might guess, they went belly up during the great recession. The cause? Someone, somewhere in their financial product chain was not being faithful about the volatility of the asset they were basing their whole model on so when the market went tits up they did to.