The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 11 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
John Paulson Knew Nothing About Mortgages Before Profiting Off the Meltdown
“John Paulson was unlikely. He was a merger arb. He's the one that made the most money on the mortgage meltdown. The guy didn't know anything about mortgages. He owned a home or two over the years”
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 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.”
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.”
Early Simons-Baum Algorithm Cornered the Maine Potato Market
“And they developed the system, an automated type system, early trading model, and it cornered the market for Maine potatoes.”
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.”
Medallion Fund Has Been Employee-Only Since Around 2003
“Medallion has been really only Jim Simons and his employees since around 2003. They kicked the last people out.”
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.”