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Jim Simons has died

simonsfoundation.org

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Re: Jim Simons has died

#331

Post by chollida1 »

richrichie wrote: post #325
chollida1 wrote: post #322

Earlier quoted context omitted.

> Rentec gets a lot of leverage and gets ridiculous pricing on option trades from the banking desks because of the flow they bring. So do about 200 other funds world wide. Their leverage and sell side pricing isn't what makes them successful, as most other large funds trade as much as them and get atleast the same pricing as they do.

RenTec’s volume is much higher. They are the sheikhs of the street. Leverage makes a huge difference. If a strategy nets on average 0.1% a day and if RenTec can trade at 2x more leverage than their counterparts, they will post 60% pa vs 30% pa.

RenTech trades far less than many of the market makers in the US, and they get the same funding rates as the rest of the big players. I don't know their specific situation, but the fact that all the big players get the same rates indicates RenTech isn't special in this way.

They have no size or leverage advantage that 200 other funds in the US don't have.

Re: Jim Simons has died

#332

Post by MP_1729 »

77pt77 wrote: post #317
MP_1729 wrote: post #128

Simmons is one of the greatest people and a true inspiration as a mathematician, even though my career drifted from academia. He and Andrew Wiles are the reason why I always say I am a mathematician, even though I work elsewhere. RIP

Why do you admire Wiles so much?

I read Simon Sigh during high schools and that was such a beautiful story of perseveration that I decided to do Math.

Re: Jim Simons has died

#333

Post by richrichie »

benreesman wrote: post #327
richrichie wrote: post #325

Earlier quoted context omitted.

RenTec’s volume is much higher. They are the sheikhs of the street. Leverage makes a huge difference. If a strategy nets on average 0.1% a day and if RenTec can trade at 2x more leverage than their counterparts, they will post 60% pa vs 30% pa.

I recommend the book “When Genis Failed” for a blow by blow of how fucking stupid you can be and still get a Nobel in Ecobnomics. Economists are stupid or wrong or bought. Or all of the above. Friedman? Come back when you’ve got someone better.

huh?

Re: Jim Simons has died

#334

Post by rajnathani »

max_ wrote: post #81
1980phipsi wrote: post #37

Earlier quoted context omitted.

Quanta Magazine is also funded by his foundation.

Even the Numberphile YouTube Channel. He was very serious about improving maths education and actually did alot.

Quanta is by the Simons Foundation, whereas the Numberphile YouTube channel is simply sponsored by them.

Re: Jim Simons has died

#335

Post by Shocka1 »

elorant wrote: post #228
paulpauper wrote: post #208

Earlier quoted context omitted.

infamous implies bad.

Well it’s an algo trading company.

I have algos running that trade for me in personal accounts. Of course it's not the volume that the big shops are trading, but the whole "algo traders/market makers bad" thing is always a fun one to see.

Finding anomalies that develop into a mean reversion trading algorithm is actually one of the more fulfilling things I've done. Only a few other things in my life have matched the amount of grit and brainpower I've had to use to get something like this accomplished. A team or company stretching the limits of statistics and computer science to do the same seems like something worthwhile to me.

Now we can get into some areas that may be borderline unethical, like certain types of front running, but a blanketed statement isn't a fair thing to cast on the industry as a whole.

Re: Jim Simons has died

#337

Post by bcherny »

mgfist wrote: post #320
bcherny wrote: post #288

Earlier quoted context omitted.

The wealth transfer hypothesis I didn’t really get, but their other hypothesis that it’s a way to nudge non-employees out of the fund is probably right.

I think "wealth transfer" is a poor description. Really it's just a way to ensure they have enough money to compensate (very highly) less tenured employees, and to align incentives better (i.e. not just being paid because you're already rich and tenured).

Yes, I agree. That's a less loaded way of explaining it.
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