In one of those books there are stories about giving tours to potential investors. During one of the office tours Jim Simons was smoking and needed an ash tray and there wasn't one in the room, so he just snuffed the cig out on the cake that was catered for the tour. Another time one of the staff was trying to give a pitch on their approach and referenced a stock that hadn't been on the board for many years, I think it was Chrysler. They didn't have one magic formula; they had many and keep developing new ones. They don't hire any business professionals. Only scientists, mathematicians, engineers, and software gurus. It's all math based and extremely secretive. I can't even imagine what it would be like in a room with them.
they hired tons of business professionals. A lot of their profits were generated by these business professionals figuring out tax and regulation loopholes.
One of the statements Jim Simons makes is that they hired only scientists. Maybe he was referring to positions that participated in trading and not the back end.
The current CEO wrote a book. There is a quote to the effect of: “we had an office in NYC with lawyers, accountants and business professionals and every day they proved to me that all the brains werent in white plains”
Almost, but not quite:- See #9 The CEO of a hedge fund that averaged a 66% return for 3 decades spoke about investing, hiring, and sleeping 2,000 nights in his office. Here are the 11 best quotes. https://markets.businessinsider.com...peter-brown-investing-hiring-ibm-sleep-2023-9
Idea is the same. and their business development and legal teams figured out ways to make and save billions.
suntrader found the quote I was referencing. other stuff I have heard through the industry (re biz development) or read in lawsuits (legal)