The man credited with being perhaps the most successful Wall Street investor and hedge fund manager in history – and perhaps the most intelligent billionaire in the world—has little interest in the kind of knowledge and information that is seemingly foundational to his peers in wealth management.
Simons, currently worth about US$28 billion, is not solely focused on the stocks and other financial assets that Renaissance Technologies, the firm he founded in 1982, trades on a daily basis. He doesn’t delve into the detailed ins and outs of each trade, and in fact actively works to avoid trying to decipher the meaning and causes behind the buying and selling transactions of his firm – as he believes these attempts could contaminate the groundbreaking ‘quantitative investing’ system he crafted and that is the heart of the hedge fund.
This system has made him, his former colleagues, and the firm’s investors, annualised returns that are completely unheard of anywhere outside of Renaissance, making the firm the envy of other hedge funds and wealth management experts. In fact, within the walls of Renaissance Technologies, you’re unlikely to find many, if any, financial experts of the traditional sort. Instead, one is surrounded by mathematicians, physicists and other scientists, meaning that objectivity and scientific method replace the stereotypical economic theory and corporate analysis that largely define the investment industry and its leaders. In other words, the last thing Simons wanted in his firm was Wall Street experience, expertise and methods. All he wanted within the walls were things he could always place complete trust in: math and science.
This story is from the August 2023 edition of MAXIM Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 2023 edition of MAXIM Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Ross Noble
The Pommy stand-up comedian and actor takes us through his final day on Earth...
Memoir of a A MALE ESCORT
In his tell-all biography, Australian male escort Ryan James takes readers inside his provocative world of sex and lust to discover how a twenty-something, clean-cut bloke from the suburbs ditched a career in finance to star in over 150 adult films and find success in the lucrative work of male escorting. This up close and personal look at the sex industry explores all the myths and misconceptions surrounding it, as well as his personal journey...
ABANDONED!
Planning a holiday? Why settle for sun, sand and surf, when you can visit deserted, magical lands full of radioactive leaks, evil curses and scenic asylums? Choose your destination from 10 of the world's best...
THE REAPER
Hot on the heels of his most recent battle at UFC 298, we throwback to our 2019 MAXIM Style fashion feature with Kiwi-born Australian mixed martial artist, and middleweight UFC champion, ROB WHITTAKER. He sure loves a suit, but loves to win even more…
15 BARS YOU NEED TO VISIT BEFORE YOU DIE
In his book 150 Bars You Need To Visit Before You Die master sommelier JURGEN LIJCOPS guides readers on a journey to the most extravagant watering holes in the world - each having a unique story to tell. Here's 15 of his favourites.
RUNWAY ROCKER
Getting to know horse riding, rock roll lover and budding travel vlogger JENNIFER BUTCHER...
RUNNING OF THE BULL
Red Bull Racing heads into this year's Formula One season as the undisputed top gun. So, who will take the fight to them? We check out the field to find some answers...
GOING HYBRID
CAMERON FALLOON, founder of BFT (Body Fit Training), and former strength and conditioning coach for international soccer and local AFL teams, tell us why hybrid training is the workout style of the future...
The TRIBE has SPOKEN
Russian-born beauty, Australian Survivor star and one of MAXIM's finest models, VALERIA SIZOVA, talks up the game, alliances and facing the ultimate test in physical and mental strength...
IT'S YOUR YEAR!
Clinical Nutritionist and Naturopath BROOKE BENSON CAMPBELL (BHSC) presents 10 tips on achieving a stronger mind, healthier body and a better you this year...