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TenBagger United States. Mar 25 2009 00:32. Posts 2018 | | |
Alpha Magazine released their annual list of the world's highest paid hedge fund managers
http://iimagazine.com/Alpha/Article.aspx?ArticleID=2165638
Guess who's number one? No not Steven Cohen. Rather it the man that I've idolized for quite some time now, James Simons. He's had back to back years of $2 Billion+ paychecks and 4 straight years of making at least $1 Billion. He was first on the list for 2006, third for 2007 and first again for 2008. Nobody comes close to Simons in terms of performance and consistency. Who exactly is this man?
http://www.iimagazine.com/Alpha/Article.aspx?ArticleID=2165639
http://en.wikipedia.org/wiki/James_Harris_Simons
"Jim Simons continues to defy logic. In a year when most hedge funds lost money — and the few that were in the black generally managed less than $1 billion — Simons, the renowned founder of East Setauket, New York–based Renaissance Technologies Corp., generated a hard-to-fathom net 80 percent return at his 20-year-old flagship Medallion Fund. What makes this feat even more incredible is that Simons, one of the members of Alpha ’s inaugural Hedge Fund Hall of Fame (June 2008), charges a fat 5 percent management fee and 44 percent performance fee. To put it another way, Medallion — which has about $7 billion in assets — was up almost 160 percent before fees."
And folks, this man does this every fucking year, during boom times and through recessions. How does he do it?
"Simons, an award-winning mathematician, won’t discuss his strategy, except to say that it is based on rapid-fire trading across almost every possible market and that it relies on computer-driven programs designed by an army of more than 100 Ph.D.s."
Alpha is such a commonly used term. There is alpha magazine. Bridgewater, the world's largest hedge fund named their flagship fund "pure alpha". Alpha is to investing what +EV is to poker.
http://en.wikipedia.org/wiki/Alpha_(investment)
http://en.wikipedia.org/wiki/Jensen%27s_alpha
Simons is the king of alpha.
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Uptown . Mar 25 2009 00:42. Posts 3557 | | | |
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NewbSaibot United States. Mar 25 2009 00:45. Posts 4946 | | | |
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TenBagger United States. Mar 25 2009 00:48. Posts 2018 | | |
| | On March 24 2009 23:45 NewbSaibot wrote:
Ponzi scheme |
except that he wouldn't take your money even if you begged him to.
"Alas, only the chain-smoking 70-year-old and his partners, employees, ex-employees and friends can invest in Medallion these days; Simons returned outsiders’ money in 2002, and each year he gives back money to existing investors to keep the fund from growing too large."
kinda defeats the point of running a ponzi scheme when you refuse to take in any extra money. |
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Ket  United Kingdom. Mar 25 2009 01:19. Posts 8665 | | |
damn ppl like this make top tier elite poker players look like fulltime mcdonalds workers both in accomplishment and wealth |
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Uptown . Mar 25 2009 01:32. Posts 3557 | | |
| | On March 24 2009 23:48 TenBagger wrote:
except that he wouldn't take your money even if you begged him to.
"Alas, only the chain-smoking 70-year-old and his partners, employees, ex-employees and friends can invest in Medallion these days; Simons returned outsiders’ money in 2002, and each year he gives back money to existing investors to keep the fund from growing too large."
kinda defeats the point of running a ponzi scheme when you refuse to take in any extra money.
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god words cannot descibe how sick this is. |
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Highcard Canada. Mar 25 2009 01:52. Posts 5428 | | | |
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| I have learned from poker that being at the table is not a grind, the grind is living and poker is how I pass the time | |
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Zalfor United States. Mar 25 2009 02:05. Posts 2236 | | |
he gives back investor money to prevent his fund from growing too large.
his strategy apparently isn't scalable like buffet's as buffet's general vision based strategy is fine for large investments.
Rentec is a fking good place to be though.... shit. |
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Highcard Canada. Mar 25 2009 02:51. Posts 5428 | | |
damn I just read a ton of stuff about this guy, thanks for the headlines |
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| I have learned from poker that being at the table is not a grind, the grind is living and poker is how I pass the time | |
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RiKD United States. Mar 25 2009 03:33. Posts 8856 | | |
can someone clarify? basically he got 160% returns for his customers but he (and/or his company) got 80% of those returns + whatever his ridiculous salary must be??? i'm usually very speculative of these guys but that is just too absurd of a winrate for too many years especially w/ the markets not being robusto anymore to be a fluke and is seriously what the fuck material.
also, ket while i agree w/ your point that guys like this make poker players seem like mcdonald's employees my opinion is that accomplishments don't really mean shit and obv wealth's value starts going down a ton when you get to that level. i don't think ivey or jman or durrrr are crying themselves to sleep that they don't make billions of dollars a year while grinding stocks 80+ hours a week. it probably really REALLY sucks losing millions of other people's money too (especially if it is done in an integrity lacking way ie liar's poker which w/ all the shit that has come out recently i wouldn't just assume this guy is above all that although he doesn't really seem to lose anyone money lol), etc etc. although the fact he could retire tomorrow and buy some yachts, some mansions or even his own island if he pleased and play railheaven for the rest of his life laughing at all the elite poker players grinding pennies from him you do have a point. the fact that his job probably stimulates him constantly and he hasn't retired and bought yachts and mansions and islands (well, at least hasn't retired) also probably means he's winning life at unthinkable levels. |
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cariadon Estonia. Mar 25 2009 08:33. Posts 4019 | | |
he would probably get absurdly good at poker in the quickest time |
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