Simons MEDALLION Fund up over 50 % for first three quarters 2007

Discussion in 'Wall St. News' started by ASusilovic, Nov 27, 2007.

  1. [..]Renaissance is on fire: Its Medallion Fund -- which uses
    computers and trading algorithms to invest in world markets --
    returned more than 50 percent in the first three quarters of
    2007. It had about $6 billion in assets as of July 1.
    Simons registered that performance as subprime and related
    markets were collapsing, sending two mortgage-related hedge
    funds run by Bear Stearns Cos. into bankruptcy. The turmoil
    pummeled the Goldman Sachs Global Alpha Fund, a rival to
    Renaissance's funds, which fell more than 25 percent during the
    same time. Morgan Stanley's computer jockeys lost $390 million
    in a single day in early August.


    In August 2005, Simons started Renaissance Institutional
    Equities Fund, or RIEF, which invests in U.S. stocks. Through
    Sept. 30, it has returned 12.8 percent annualized.
    Medallion, which turns over its holdings dozens of times each
    year, RIEF keeps its positions for months or longer. Simons said
    at the time of the fund's inception RIEF could theoretically
    manage as much as $100 billion.
  2. im unsurprised.

    these guys are legendary in their approach and trading styles.

    they are the reason everybody finds the market harder as we get older.

    they are a cut above the rest.
  3. Was so funny to read all those dumba** journalists mixing up Medaillon and REIF during the August rout.
  4. Cygnus Atratus = black swan = is a large-impact, hard-to-predict, and rare event beyond the realm of normal expectations....1000 % seems to be one of these hard-to-predict scenarios, isn´t it ? :)
  5. Pekelo


    Also a slight difference is that Simons had 6 billion and Lahde only 10 million AUM.
  6. et123


    inspiration for those of us building quant systems...

    It can be done and has been done - with numbers!
  7. Simmons has about 30 phds working for him and countless developers, so being a successful quant is quite expensive.
  8. Imagine Google would start a hedge fund with all their PHD's. We could all go back to flipping burgers!
    #10     Nov 28, 2007