Jim Simons is a mathematician and cryptographer who realized that the complex math he used to break military codes could also explain patterns in the world of finance. James Simons has been described as "the world's smartest billionaire", amassing a fortune through the clever use of mathematics and computers. He has stepped down as the chairman of Renaissance Technologies, the most successful quant hedge fund in history this January. Simons has not overseen the day-to-day running of the $120 billion hedge fund for nearly a decade, but he had stayed on as chairman of the fund up until now.Jim’s retirement marks the end of an era in finance. Simons’s career and the fund he launched proved that the finance textbooks which claim that markets are perfectly efficient were wrong.
Obviously, the trading strategies at Renaissance are secret, but let’s look at Simons career, and see what lessons we can learn.
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