" JS: ... Trend-following would have been great in the '60s, and it was sort of OK in the '70s. By the '80s, it wasn't." A swing and a big miss! The '80s is when the most famous trend-following system of all --the Turtle Trading System-- came to prominence. This guy clearly is confusing TF with something different altogether.
funny thing is you guys reduce Rennaissance to Jim Simons while as he says success was possible due to brilliant excellent people working there.. so there is Simons + at least 150 guys who are SCIENCE PEOPLE.. you really wanna argue that they DON'T UNDERSTAND whatever you claim they don't understand?? you,kut2k2 like taking about probabilities what are the chances here?? chances are you don't understand probability / neither do I/.. in one of his interviews he says they base their decisions on statistics rather than probability and they have a HUGE, HUUUUGE data base which is impossible to create by a retail trader, so probably they checked their predictions against ALMOST EVERYTHING.. anyways,if interested go to nuclear phinance forum where there is a thread devoted to Rennaisance , anything that was made public.. and one more thing- if this guy + 150 can't do the so called trend following - probably almost nobody can or it might mean that there are better methods..
if SImons and Rentech are so genius, how come they had to boost their returns by evading the leverage limits every other hedge fund follows? that was in the senate report too. don't believe the hype on SImons. if rentech had a special sauce, it wouldn't have needed 10-12 leverage when the legal limit is 6.
35% is after fee 35% 35% is after fee, while he charges 5% annual management fee and 44% profit fee. That is pretty close to 80% right? I saw the figure around 80% before fee somewhere. Who is "complete non sense" now?
next thing, this guy kut2k's gonna say is that Simons & the bunch probably don't even understand SLA !! ) 150 scientists - that's ONE COLLECTIVE SCIENCE MIND ! I wonder how many professors does for instance Harvard hire??
well, as long as he prays to people following SCIENTIFIC METHOD he should be ok .. priests don't follow science ,if anything, they try not to get in the way.. so, yes, praying to you would be no good
OMG! https://en.wikipedia.org/wiki/Renaissance_Technologies Read the part HISTORY. But what is more important is that WSJ confirmed these returns. Wikipedia is not always reliable. But you did not know that probably?
If it would only be a matter of having the most (in number) scientists, then these companies would make all the inventions that were ever made. How could a student then create Facebook? Shouldn't this not be done by these smart scientists, PHD's or MBA's? Same question for Google, Microsoft, Dell, Snapchat, Twitter..... How is it possible that small companies can invent new medecines with less researchers and less budget than the big companies? Having many and very smart scientists is no guarantee at all for success. That was already proven many times in past.
As I said before, these are after fee, you need to add the 6% annual fee and 44% profit fee too, that is how much money he really can make on average per year.