Renaissance Technologies
Renaissance Technologies is an American investment company founded in 1982 by mathematician James Simons and whose Medallion Fund is one of the most profitable hedge funds in the world today. From 2010 to 2017 it was headed by Robert Mercer and Peter Brown, and since 2018 Brown has been running the business alone.
In 1989, Simons, together with Elwyn Berlekamp, developed new algorithms for the recently less successful Medaillon Fund, which were geared towards much faster transactions than usual ( high-frequency trading ). The following year the fund made a profit of 55%. Simons hired other highly qualified mathematicians to continuously optimize the calculations. Since 1993 only Renaissance employees have been involved in the fund, which regularly generates extraordinary profits and seldom records very small losses.
literature
- Katherine Burton: Inside a moneymaking machine like no other . Bloomberg Markets, November 21, 2016.
- Pamela Roux, Katherine Burton: This hedge fund may be poised to make the most billionaires . Bloomberg , April 25, 2017.
- Gregory Zuckerman: The Man Who Solved The Market: How Jim Simons Launched the Quant Revolution. Penguin (first published 2019) ISBN 978-0-241-30972-8
Individual evidence
- ↑ Alana Abramson, Lucinda Shen: Conservative Megadonor Robert Mercer Is Stepping Down As CEO of His Massive Hedge Fund. Read His Full Statement . Fortune, November 2, 2017.
- ^ Short biography of Peter Brown. Simons Foundation, accessed September 24, 2018 (American English).
- ^ Scott Patterson: The Quants: The maths geniuses who brought down Wall Street . Crown, New York 2010, pp. 205f.