unrealengineblockchaingame| Jim Simmons, founder of quantitative trading, has passed away

The grand medal fund returned 39% a year, surpassing Buffett, George Soros and Peter Lynch.

Billionaire Jim Jim Simons has died at the age of 86.UnrealengineblockchaingameHe was an acclaimed mathematician who later founded Renaissance Technology, one of the most profitable trading companies of all time, and pioneered the field of quantitative investment.

The Simmons Foundation (Simons Foundation) announced on its website that Simmons died in New York City on May 10th. The foundation is a private research foundation founded by Simmons and his wife Marilyn in 1994.

Simmons founded Renaissance Technology in 1978. He shunned traditional Wall Street and hired fellow scientists and mathematicians at the company to build predictive models designed to detect market patterns, and later the Renaissance used computers to trade automatically based on these signals.

Fundamental investors track corporate earnings, balance sheets, industry trends, valuations, economics and other sources of information to make informed investment decisions. Warren Buffett of Berkshire Hathaway is representative of the fundamental analysis approach, focusing on the context of corporate balance sheets and judging with business common sense.

Quantitative analysis uses mathematical and statistical models to screen investment ideas using a sometimes dazzling series of inputs.

The Renaissance eventually became a money-making machine. According to Wall Street Journal reporter Gregory Zuckerman (Gregory Zuckerman), the company's flagship Grand Medal Fund (Medallion Fund) generated more than $100 billion in revenue between 1988 and 2018, with an average annual return of 66 per cent before the company charged huge fees to investors.

Zuckerman wrote the biography The Man Who Solved the Market for Simmons in 2019. Sackmann said that after deducting these fees, the fund's annual return was 39%, surpassing Buffett and George.Unrealengineblockchaingame? Soros, Peter? Lynch and other investors, but the fund has been open only to Simmons and his colleagues since 1993.

The popularity of quantitative trading then soared on Wall Street. Hedge funds, banks and other investment firms are hiring mathematicians, physicists, computer scientists and others with more scientific backgrounds to hold positions in trading and other departments.

Even traditional, fundamental-oriented investment companies are increasingly incorporating quantitative factors into their investment strategies.

Simmons resigned as Renaissance chief executive in 2010, but he led the company's board until 2021.

Forbes estimates that Simmons has a fortune of $31.4 billion and has donated about $6 billion to charity in his lifetime.

Before the Renaissance, Simmons was head of the mathematics department at Stony Brook University in New York. The Simmons Foundation says his breakthroughs in mathematical theory during that time have now played an important role in the fields of string theory, topology and condensed matter physics.

(William Wirtz / tr. by Robert Taylor)

Editor | Yu Zhou

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