Renaissance Avoided Wall Street Hires to Protect Intellectual Property
Gregory Zuckerman · Gregory Zuckerman – Decoding Renaissance Medallion (Capital Allocators, EP.119) · Jan 6, 2020 · at 28:46
Wall Street Journal writer Greg Zuckerman discusses the hiring philosophy and secrecy behind Jim Simons' quantitative hedge fund Renaissance Technologies.
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“He doesn't hire from wall street. He never has interest. If you worked on wall street, it's hard to get a job there. And that helps because when they leave, people don't usually go to wall street. So I don't know if I think he stumbled onto this. I don't think he did this intentionally, but it helped keep their IP secret because you make a lot of money at medallion at Renaissance. And then you're not going to go work at D. Shaw afterwards. You go retire and buy an Alps or something.”
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