Medallion Fund Literally Printed Money In the Last 30 year
Who Owns Renaissance Technologies?
Jim Simons founded Renaissance Technologies, a former Cold war code breaker and a famous mathematician. He is known in the scientific community for co-developing the Chern–Simons theory. Simons also received the Oswald Veblen Prize of the American Mathematical Society, which is geometry’s highest honor.
What Is the Medallion Fund?
Simons and algebraist James Ax started a hedge fund and named it Medallion in honor of the math awards that they had won. The Medallion fund used mathematical models to explore correlations from which they could profit.
Performance Of Medallion Fund
The performance of the Medallion fund has astounded everyone. If you had invested $1,000 in the Medallion Fund, after 30 years, you would now have $20 million (after fees). To put these numbers into perspective, a similar amount invested in the S&P 500 would be $20,000. And if you invested in Berkshire Hathaway, it would have grown to only $100,000.
How Does Medallion Fund Work?
The Medallion fund embodies the “will robots take my job” sentiment prevalent on Wall Street.
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