James Ax, every mention

Renaissance Technologies (Audio) · Acquired Mar 18, 2024 · 14 mentions

• ▶ 37:39 David Rosenthal And amazingly, it works.
• ▶ 41:49 David Rosenthal But some of them, and in particular, the superstar James Axe, Jim convinces to come join him in his trading operations.
• ▶ 41:59 Ben Gilbert So having Baum and Axe and Simons, it's like suddenly this extremely credible team in the math world.
• ▶ 44:01 David Rosenthal Yeah, they're just suggesting patterns and ideas, and Jim and Lenny and James, they have to then decide, hey, are we gonna do this or not?
• ▶ 48:53 David Rosenthal This is Jim and his buddies and Lenny and James and Howard.
• ▶ 51:16 David Rosenthal So I think perhaps in part because of the trading losses, James Axe starts to get a little dissolution too.
• ▶ 52:45 David Rosenthal So once Axe and Strauss get out to California, Strauss, he's kind of on the computing data infrastructure side.
• ▶ 55:11 David Rosenthal And Berlecamp coming in and working with Axe on the models and saying, hey, we should be smart about the bet sizing that we're doing in the trades that are coming out of these models versus, I don't know what they were doing before, maybe…
• ▶ 57:55 David Rosenthal And they decide to name it after all of the collective mathematical awards that Jim and James and Berlekamp and all these prestigious mathematicians have won in their careers.
• ▶ 1:02:32 David Rosenthal Unfortunately, right out of the gate, the fund stumbles a bit, and Axe ends up getting burned out.
• ▶ 1:02:53 David Rosenthal So he buys out most of Axe's stake in the summer of 1989, and he moves the offices up to Berkeley.
• ▶ 1:08:13 David Rosenthal Medallion was about twenty-seven million dollars under management when Burlekamp bought out Axe.
• ▶ 1:11:23 David Rosenthal At six X the basis that Berlecamp had paid Axe a year earlier.
• ▶ 1:12:44 Ben Gilbert So it's now the Jim Simons show in New York with Strauss building the engineering systems, and Axe, I think, still had a small stake.