Wow they're finally looking into this fund that averaged 3x madoff returns for decades Only took them a lifetime
Not really. Although I don't make a habit of surrounding myself with people who ignore facts in favor of idiotic conspiracy theories that they made up themselves on the spot, so if they inhabited my world I probably would have a hard time interacting with them!
So you're going on record to say that Renaissance is doing everything by the books, including no spoofing in their code, no insider info, and all trading is done with the utmost respect for every rule? I don't want to jump on any conspiracy theories either, but "facts" when it comes to trading are just as ambiguous as "facts" in politics. The truth of the matter is that you can hardly explain anything in trading with facts as its all just far too complex with too many participants.
I said no such thing. Again, reading comprehension is a valuable skill! I simply pointed out that the title of the article was entirely misleading, and that clearly many posters hadn't actually read the article before jumping to conclusions based on the false headline. If you disagree with that I'm happy to discuss it. If you want to claim that Renn is spoofing because they have good returns, well opinions are like a-holes, everybody's got one. I don't have enough information to form an opinion on that, so like most scientific/engineering types I tend to follow the "better to remain silent and be thought a fool than open your mouth and remove all doubt" axiom when I don't have enough information to form a reasonable hypothesis. You?
But you're saying that you do have enough information to say that there is no conspiracy theory going on here. You continue to insinuate that they aren't doing anything wrong/illegal, so it follows that you should be saying that you believe nothing will be found. Here is a direct quote from the article: "James Rowan, the fund’s chief operating officer, said that he was concerned that source code could “leak,” " If the fund's COO is concerned about a leak, how did we all read this wrong? Rowan does go on to say that "There is no probe of Renaissance,” and that he was misquoted, and furthermore “I was referencing a comment letter provided by the Managed Funds Association regarding the CFTC’s proposed Regulation AT.” So what is the real story here? Did he say he was concerned about the code leaking, and then take it back saying that he didn't say it? This certainly sounds more plausible to me because info getting out that Renaissance having to show code to the government would be big news. If you know a huge shipment of gold bricks is going to sitting over the weekend at some depot, this will clearly attract lots of potential heists. (and this very same thing has happened in the past) Of course in the end, the article finishes by stating that nobody said anything and neither party is commenting. You might not want to jump on conspiracy theories, but it sounds like you're believing everything that officials tell you and taking it at face value. Either you believe that the COO said he was concerned about a leak or you don't believe this, but its all in the article so you cannot say the readers were jumping to conclusions.
My question was rhetorical... What actually happened was nothing like you or the other poster describe. At any rate, why guess? Books have been written on the subject. "When Genius Failed", for one, is quite accurate.
Yes, very true. I personally don't know the facts of the case, but there certainly probably is some conclusive facts about what happened, some of which might be as the posters here present it, or completely wrong. Do you therefore have an opinion on the current Renaissance issue with regards to releasing code, if you do believe this was even requested?
imo, there is no easy way that could prove the same functional software is used during the required test against the company's actual production!
No, I haven't followed the RenTec news recently... However, I have broadly followed RenTec for many years and find a lot of the aspects of the story fascinating.