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The Fund Manager Who Beat Soros The Untold Simmons

Who was t forexcashbackcalculator highest paid wage earner cashbackforexbtc 2005? Is it the highest paid financier on Wall Street? Former Goldman Sachs CEO Henry M. PaulsonJr. earned a salary of $38.3 million last year, plus stock options totaling less than $100 million or the CEO of a Fortune 500 company? Last year, "Forbes" list of the most profitable CEO is the first capital financial company (CapitalOneFinancialCorp.) the head of Fairbank (Richard Fairbank), a year into the $ 250 million answer is none of the above according to the investment magazine "Institutional Investors Alpha" ( InstitutionalInvestor’sAlpha) reported that the highest annual income in 2005 was the Renaissance TechnologiesCorp. Perhaps you are unfamiliar with the name Simons; even those who specialize in investment funds on Wall Street have rarely heard of Simons East forex cashback Eastforexcashback Renaissance Technologies Corporation. The 68-year-old Simmons, a former university mathematics professor who founded the famous Chern-Simons geometry law with Chinese-American mathematician Chen Shangsheng, founded Renaissance Technologies in 1982 and established the companys flagship MedallionFund in March 1988. After the 1998 Russian bond crisis and the 2001 high-tech stock bubble crisis, many once-famous hedge fund managers have gone into decline, with Julian Robertson closing the Tiger Fund and John Meriwethers (Chern-SimonsHall) In contrast to John Meriwethers Long Term Capital Management, which almost went bankrupt, and Soros Quantum Fund, which shrank significantly, Simmons Grand Prix Fund had an average annual net return of 34% cashback forex its inception in 1988 to December 1999, earning a total net return of 2,478.6%, making it the number one fund in the same period. However, the fees charged by Renaissance Technologies, Inc. were staggeringly higher. The management fees and profit-sharing ratios for hedge funds were generally 2% and 20%, respectively, but Renaissance charged 5% and 44%, respectively, almost splitting profits with clients. Antoine Bernheim, author of the U.S. OffshoreFundsDirectory, points out that Simmons has generated a higher rate of return than Bruce Kovner, George Soros, Paul Tudor Jones, Louis Bacon, and the likes. As a trader, Simmons is moving beyond the efficient market hypothesis, which holds that market price fluctuations are random and that traders cannot consistently profit from them. After graduating from Newton High School, he entered the Massachusetts Institute of Technology, where he studied under the famous mathematicians Warren Ambrose and I.M. Singer. In 1961, he and his MIT classmates invested in Columbia Tile and Pipe; at Berkeley, he tried his hand at stock trading, but the trades didnt turn out too well. In 1964, he left college and joined the Defense Logic Analysis Society, a nonprofit organization under the U.S. Department of Defense. It wasnt long before a brutal report on the Vietnam War in Time magazine made him realize that his work was actually helping the U.S. military in Vietnam, and the anti-war man wrote to Newsweek saying that the war should end When he told his boss about his anti-war ideas, he was naturally fired He returned to academia and became a professor at Stony Brook University ( In 1974, he published his famous paper "Typical Groups and Geometric Invariants" jointly with Chen Shoushin, creating the famous Chern-Simons theory, a geometric theory of great importance to theoretical physics and widely used in applications ranging from supergravity to black holes. In 1976, Simons was awarded the Veblen Prize for Mathematical Sciences, the highest honor in the world of mathematics, once every five years. In addition to his theoretical research, he became fascinated with stock and futures trading and in 1978, he left Stony Brook University to found Limroy, a private investment fund that invested in a wide range of areas, from venture capital to foreign exchange trading; initially, it used mainly fundamental analysis. After ten years, Simmons decided to set up a purely trading hedge fund. He closed Limroy and in March 1988 set up the Grand Prix Fund, which was initially involved mainly in futures trading. In the next six months, Simmons and Henry Larufer, a mathematician at Princeton University, redeveloped the trading strategy and shifted from fundamental analysis to quantitative analysis The Grand Prix Fund focuses on studying historical market data to find statistical correlations to predict short-term movements in futures, currency, and equity markets, and through thousands of quick intraday short trades to When trading begins, the trading model determines the types and timing of trades, and the 20 traders follow instructions to trade a wide variety of U.S. and overseas futures, including commodity futures, financial futures, stocks and bonds, in a short period of time. After several years of dizzying growth, the Grand Prix Fund reached $270 million in 1993 and began to stop accepting new money. One-third of the employees are top scientists with PhDs in the natural sciences, covering mathematics, theoretical physics, quantum physics and statistics, and only two of the employees are Wall Street veterans. The firm does not hire from business schools nor from Wall Street, which is almost unique among U.S. investment firms Author: Beijing Big Fish Financial Services Co.