The Ledger
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Medallion Fund Uses Leverage Sometimes Reaching 10 to 1
“And they use leverage on top of that, sometimes as much as 10 to one or more, depending on the opportunities and such.”
Renaissance Has Generated Over $100 Billion in Lifetime Trading Profits
“If you add it all up, it's over a hundred billion dollars over the course of their lives, seven billion a year before everything.”
Renaissance Medallion Generated 66% Annual Pre-Fee Returns
“They've got these returns, 66% a year before fees. Only 39% after fees, yeah, after their five and 44 fees.”
Roughly 100 of Renaissance's 300 Employees Hold PhDs
“What I mean by that is they're not just PhDs, and yet they have a hundred out of like 300 people there, their PhDs. These are people that are groundbreaking scientists, physicists, astronomers.”
Jim Simons Hired Alan Greenspan as an Early Consultant
“He hired this young economist as a consultant named Alan Greenspan, and he had his red phone that went off when news broke and they would try to beat everybody else in trading kind of thing.”