Renaissance Technologies Moving Into Futures

Discussion in 'Wall St. News' started by Maverick74, Jul 5, 2007.

  1. Here are a few comments by/on Simons posted on another forum/sites which are worth mentioning

    "It took us six years to learn how to trade stocks"

    "They trade everything, commodities, fx, equity"

    "Trade 24 hrs 5 days a week"

    "They look at matrices that are 5000 dimension"

    "He's interested in covariance in terms of risk"

    "They factor in moving the market"

    "60 phds from speech analysis,math, physics, CS, astronomy."

    "25 people work the data exclusively"

    "We don't model prices.We model a prediction of where the price is going to go."

    "We started out from no modelling then got into some simple modelling and are now in to *very* sophisticated modelling.We're religious about our mathematical modelling".

    "They predict where prices are going next over 1 min, 1 hour, 1 day, 1 week, 1 month, 6 month horizons"

    "Statistic predictor signals erode over the next several years; it can be five years or 10 years. You have to keep coming up with new things because the market is against us. If you don't keep getting better, you're going to do worse."

    "Past performance is certainly not a guarantee, but somewhat, it's likely correlated"
     
    #31     Jul 6, 2007
  2. And a chain smoker. He doesn't look too healthy.


    For his high return strategies, he is at capacity now. Why
    do you think there is no public money in Medallion? And
    the AUM in Medallion is stuck at $5-$6 billion with yearly
    profits distributed? He CAN'T do 70% a year with even
    $20 billion, let alone with $100 billion or more.


    You need a remedial math course. Let's see ....
    73 - 69 = 4, 2^4 = 16, Forbes-estiated current
    net worth of ~$4 billion x 16 = $64 billion. That's
    $936 billion short. And it ignores taxes, charitable
    giving, living expenses, and so on...
     
    #32     Jul 6, 2007
  3. Maverick74

    Maverick74

    My bad, I figured it to a 100 billion, not a trillion.

    I simply used the rule of 72. No math required.
     
    #33     Jul 6, 2007
  4. Dude, you are a fucking beaker.
    That's one of the dumbest things I have ever heard.

    You think he does it for the money?
    Clearly, you have never heard of entrepreneurial spirit.

    You think Bill Gates does it for the money?

    You are an imbecile...
     
    #34     Jul 6, 2007
  5. I am of the position that to become a trillionaire in the next 50 years one would have to be in essence a very successful monarch/dictator.

    13 figures would require so much of both consistent accumulation and consistent returns. The securities market isn't that good too any individual yet.

    In 50 years when the price of everything has at least doubled/tripled/quadrupled again it will be a different story.

    We will likely see multiple trillionaires in the 21st century though.

    :D
     
    #35     Jul 6, 2007
  6. this is a reminder that futures trading is much more difficult to do than investing plain old stks. hatoff to the futures traders.
     
    #36     Jul 6, 2007
  7. harry11

    harry11

    When will this happen??
     
    #37     Jul 6, 2007
  8. How can Ken Griffin get into politics when no one likes him?
     
    #38     Jul 6, 2007
  9. sellvol

    sellvol

    [​IMG]
     
    #39     Jul 6, 2007
  10. I don't see him running as a candidate being a viable pursuit. He and SC could setup the lobbying firm though.

    Politics is still the good-ole boys club.

    :D

     
    #40     Jul 6, 2007