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The mathematician who cracked Wall Street | Jim Simons

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The mathematician who cracked Wall Street | Jim Simons

Jim Simons was a mathematician and cryptographer who realized: the complex math he used to break codes could help explain patterns in the world of finance. Billions later, he’s working to support the next generation of math teachers and scholars. TED’s Chris Anderson sits down with Simons to talk about his extraordinary life in numbers.

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Billionaire James Simons: Conquering Wall Street with Mathematics

A speech and Q&A with billionaire and the second richest hedge fund manager in the world, James Simons. In this speech James talks about his life, career and the events that lead him to starting Renaissance Technologies. James also goes on to speak about why Renaissance technologies is so successful and his guiding principles for life.

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Video Segments:
0:00 Introduction
4:25 Early Life
8:04 MIT
10:35 Road trip to South America
12:18 Berkley
13:18 First investments
18:20 Urge to do something different/ First business
20:26 Back to academia
26:09 Opposing the war/ Getting fired
30:45 Stony Brook University
36:26 Managing money
39:39 Becoming a trader
45:53 Renaissance technologies/ What makes it successful
49:40 Simons foundation
54:04 Mathematics as a refuge
55:40 Retirement
57:19 Guiding principles
1:00:45 Start of Q&A
1:01:12 When not to do something?
1:02:20 Thoughts on hedge fund industry today?
1:04:31 Why do you focus on collaborative goals?
1:06:30 How did your parents help foster your mathematical knowledge?
1:07:15 When you look back, would you change anything?
1:08:14 Do you think you should share your knowledge?
1:09:52 Thoughts on mathematics education?
1:17:55 Bourbaki movement?

Interview Date: 30th October, 2014
Event: The American Mathematical Society and the Mathematical Sciences Research Institute
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Billionaire James Simons: Investing, Mathematics and Life

An interview with billionaire quantitative investor and Co-Founder of Renaissance Technologies, James Simons. In this interview James discusses his career in investing and how his work in mathematics helped him create financial models to beat the market. James also talks about his philanthropic efforts to improve the teaching of mathematics in schools.

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Billionaire James Simons: Conquering Wall Street with Mathematics:

Video Segments:
0:00 Introduction
0:08 As a child, were you good at mathematics?
1:16 Were you a talented student?
2:14 Did you want to be a mathematician?
4:00 Did you imagine yourself as a professor?
4:36 Are there often moments where all the concepts fall into place?
5:58 Berkeley and Chern
7:24 What was your point of specialisation?
10:40 Was it beauty or the chase you liked?
16:23 Did it feel like a diversion?
17:32 What do you think when your theory gets used?
18:11 Working as a government codebreaker
19:39 Why were you chosen for the job?
20:52 Getting fired
25:01 Going into money management
26:09 Starting with your father's money
27:28 Why a two year delay in making financial models?
29:31 How complex are these financial models?
31:26 What discipline of mathematics do you use?
32:40 Why did you hire so many people with a PHD?
33:37 What is your employment criteria?
35:01 Why didn't other mathematicians do it?
38:02 Is it hard to follow a model religiously?
38:44 Not sharing new mathematics models
39:11 Is there something about your personality that made you successful?
40:07 It was more managerial than a mathematical skill
40:52 What are you most proud off?
41:49 Would you trade your business to be the man who cracked the riemann hypothesis?
42:48 Are you a businessman or a mathematician?
45:02 Simons Foundation
45:49 How targeted are you with philanthropy?
47:36 Your philanthropy is the opposite of your business?
48:28 Your attitude to risk?
49:29 The state of mathematics?
53:46 Why the US and not Finland?
55:40 The solution
56:18 Is it not something which will correct itself?
59:28 Do you feel you're giving something back that gave so much to you?
1:00:17 Do you have a favorite mathematician?

Interview Date: 13th May, 2015
Event: Numberphile
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Dr James Simons - The mathematician who cracked Wall Street - Part 3 (2019)

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Billionaire James Simons: Quantitative Investment Strategy, Career and Trading (2019)

An interview and Q&A with billionaire and founder of the quantitative hedge fund Renaissance Technologies, James Simons. In this interview, James discusses his quantitative approach to investing and how this has evolved over his career. James also talks about fundamental trading and how his management style has helped make Renaissance Technologies so successful.

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Video Segments:
0:00 Introduction
5:20 Were you precocious about business as a child?
7:06 When did you start thinking about business?
12:15 Your first investment was leveraged contracts on futures?
13:05 What got you interested in business?
15:13 Did any code breaking have applicability to finance?
17:40 Investing in foreign currency after Stoneybrook?
29:19 Interesting history?
31:34 Joining Stoney Brook mathematics department?
37:03 Leaving Stoney Brook to trade?
37:57 Fundamental trading technique?
39:54 Track record of Medallion fund?
44:28 How many employees do you have?
47:25 Employees are top of their field?
49:53 How do you manage lots of talented people?
52:42 A theory as to why Renaissance is so successful?
56:26 How did you know about the Bernie Madoff ponzi scheme?
1:03:01 The 2008 financial crisis?
1:08:47 Start of Q&A
1:09:14 Has the rise of computes in markets changed your perspective on fundamental investing?
1:11:11 Are quants destined to slowly drive themselves out of business?
1:12:47 What is your favourite algorithm?
1:13:59 How did you protect your intellectual capital?
1:16:52 The balance between improving your model and keeping it simple enough to understand?
1:18:12 Is Medalion the same as it was 10 years ago?
1:19:38 At any point in time did you doubt yourself?
1:21:48 Is your internal compass better than others?
1:23:53 Inductive or deductive driven investment strategy?
1:25:15 Have you encountered any unsolved finance problems?
1:26:20 Advice to future quants?

Interview Date: 6th March, 2019
Event: S. Donald Sussman Fellowship Award Fireside Chat
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#InvestorsArchive

Jim Simons on His Formula for Improving Math Education

Math for America Founder Jim Simons' interview on Need to Know on PBS, April 15, 2011.
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LOS MEJORES TRADERS DEL MUNDO: La Historia de JIM SIMONS - Invertir Aprendiendo

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James Simons on Basic Research - Numberphile

James Simons, billionaire and science philanthropist, on why he devotes so much of his fortune to basic research.
Eric Lander on basic research:

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Edward Thorp: Beating The Market and Casinos With Mathematics

An interview and Q&A with mathematician and hedge fund manager, Edward Thorp. In this interview Edward discusses his life and becoming successful at gambling and investing. Edward also talks about meeting Warren Buffett, Kenneth Griffin and Bernie Madoff. 📚 Books by Edward Thorp are located at the bottom of the description❗

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Ray Dalio on Hedge funds, Success and Life/Work:

Charlie Munger on Common sense and Investing:

Billionaire James Simons: Conquering Wall Street with Mathematics:

Video Segments:
0:00 Introduction and gameshow video
8:00 Your ability as a child to focus?
10:28 Tenacity is a component of your success?
11:25 Starting in gambling?
17:36 Theory on beating blackjack?
19:39 Getting an edge?
21:49 Getting a visit after submitting the paper?
25:12 How did you communicate with your wife?
26:42 What happened to your car?
34:01 Getting into stocks and bonds?
37:20 Coming up with the theory before Black Scholes?
42:00 Early investment strategies?
44:59 Rudy Giuliani?
49:02 Investing in other hedge funds (Ken Griffin)?
50:52 Split strike trading (Bernie Madoff)?
57:52 Introspection and knowing yourself?
59:18 Start of Q&A
59:37 Opportunities today?
1:03:37 Thoughts of risk balanced investing?
1:04:19 Meeting with Warren Buffett?

Edward Thorp Books 🇺🇸📈 (affiliate link)
A Man for All Markets:
The Mathematics of Gambling:
Beat The Market:
Beat The Dealer:
The Kelly Capital Growth Investment Criterion:

Interview Date: 1st February, 2017
Event: ContextTV
Original Image Source:

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Jim Simons story

How the Billionaire Mathematician made his fortune. Use mathematical models.
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Renaissance Man — Jim Simons

On  March 14, 2019, Albert Einstein's 140th birthday, the Institute hosted the inaugural IAS Einstein Gala to honor Jim Simons, IAS Trustee Emeritus and former Member in the School of Mathematics, for his visionary support of the Institute’s mission and his trailblazing success as a mathematician, investor, and philanthropist.

The IAS raised almost $3.5 million at the IAS Einstein Gala from generous donors around the world. If you would like to join them in supporting the IAS please visit 

Public Lecture 1 : James H. Simons - My Life in Mathematics

Seoul ICM 2014 Public Lecture 1 by Dr. James H. Simons - My Life in Mathematics
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#SecretsSelfMadeBillionaires 0065 Jim Simons 10 Rules On Building Models & Life

Jim Simons is the Pioneer in Computer Model Trading. He is the only billioniare who married twice, each wife is a PhD. Here are his 10 rules on how to build computer model, how to build an organization and life

James H. Simons - The Financial Crisis and Economic Policy

October 20, 2010
New York, NY

James H. Simons is President of Euclidean Capital and Board Chair of Renaissance Technologies LLC, from which he retired in 2009 after serving for many years as CEO. Previously, he was Chairman and Professor of the Mathematics Department at the State University of New York at Stony Brook. Simons is the founder and chairman of Math for America (MƒA). Together with his wife, Marilyn, he manages the Simons Foundation, a charitable organization devoted primarily to scientific research. He was elected a Fellow of the American Academy of Arts & Sciences in 2008.

#SecretsSelfMadeBillionaires 0064 Jim Simons & The Father of Computer Model Trading

Jim Simons has been the top trader in the world for the past 20 years. Only George Soros is richer than him as a Hedge Fund Manager. He created his company at age 44. Prior to that he was a world-class mathematicians and taught at Harvard University, MIT and State University of New York at Stony Brook. In 2017, he shared top earner award with Michael Platt. He is pioneer in computer model trading, the wave of the future.
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Billionaire Paul Tudor Jones: Trading, Career and Philanthropy (2018)

An interview with billionaire hedge fund manager and founder of Tudor Investment Corporation, Paul Tudor Jones. In this interview, Paul discusses his career in trading and his views on the market. Paul Also talks about his philanthropic efforts. 📚 Paul Tudor Jones favorite books are located at the bottom of the description❗

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Ray Dalio on Hedge funds, Success and Life/Work:

Charlie Munger on Common sense and Investing:

Billionaire James Simons: Conquering Wall Street with Mathematics:

Video Segments:
0:00 Introduction
1:17 How did you become who you are?
5:18 Where you a local in cotton trading?
12:48 The great crash of 1987?
16:20 Excess in current market?
19:00 Next recession?
20:15 Philanthropy?
28:04 Robin Hood?
33:15 Best way to spend philanthropic dollars?
34:46 Just Capital?
36:28 The index?

Paul Tudor Jones Favourite Books🔥(affiliate link)
The Alchemy Of Finance:
Trader Vic: Methods of a Wall Street Master:
Trader Vic II: Principles of Professional Speculation:

Interview Date: 19th June, 2018
Event: Goldman Sachs
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Interview with James Simons and C.N. Yang for Investing

I was very impressed with short conversation had with him as of tomorrow how silly impression of uh. china first visit and he is sort of uh... pause for a few seconds i realize that the he had been this has been on his mind and he said anythink the problem facing the water most important problem face in the world today is poverty have been here in my visit i found the one point three billion people putting then self-serve up.

Billionaire Cliff Asness: Quantitative Investing, Technology and Hedge Funds

An interview with billionaire quantitative investor and co-founder of AQR Capital Management, Cliff Asness. In this interview, Cliff discusses what a Quant is and how different funds use technology in investing. Cliff also talks about the value of hedge funds. 📚Books by Cliff Asness and books on him are located at the bottom of the description❗

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Other great Stock Market Investor videos:⬇

Ray Dalio on Hedge funds, Success and Life/Work:

Charlie Munger on Common sense and Investing:

Billionaire James Simons: Conquering Wall Street with Mathematics:

Video Segments:
0:00 Introduction
0:49 What's a Quant?
2:39 Are you encourage by investors becoming comfortable about Quants?
3:47 Is Quant something to fear?
10:41 Will Quant strategies continue be commoditised?
12:42 Any alpha left in large cap US equities?
14:55 Is the market too FAANGed up?
18:09 Do we still need active managers?
19:38 Holding Hedge fund managers accountable for performance?

Cliff Asness Books 🇺🇸📈 (affiliate link)
Short Selling
The Quants:

Interview Date: 7th June, 2017
Event: Bloomberg Invest New York
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Billionaire Cliff Asness: Momentum Trading, Investor Psychology and Hedge Funds

An interview with billionaire quantitative investor and co-founder of AQR Capital Management, Cliff Asness. In this interview, Cliff discusses his momentum trading strategy and how to exploit other investors psychology. Cliff also talks about the worth of Hedge Funds, Bubbles and Liberty.📚Books by Cliff Asness and books on him are located at the bottom of the description❗

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Billionaire James Simons: Conquering Wall Street with Mathematics:

Video Segments:
0:00 Introduction
0:18 Momentum trading strategy?
0:44 What returns could you earn?
1:19 Why is it larger for small stocks?
2:06 Why doesn't everyone follow this strategy?
4:00 Whats the human imperfection that allows your strategy to work?
8:05 Price reversal in the long term and overreaction in the short term?
10:38 Psychology of overreaction?
15:26 Discipline to do momentum investing?
16:32 Does Eugie Farma admit you are right?
20:01 Risk doesn't explain anything about asset prices?
23:38 Are there more market inefficiencies to be found?
25:19 Afraid of leverage?
28:32 What is likely to be a bubble?
33:28 Less worried than I am?
34:58 World biggest bond bubble?
38:35 Overrated or underrated?
40:31 Extreme outlier that is a superior performer?
44:14 Most common investment mistake of laymen?
46:35 How to make securities trading more just and fair?
50:02 Are hedge fund returns worth it?
54:43 An individual who has promoted liberty that is most undervalued?
55:50 What side of Ayn Rand philosophy is the weakest?
58:29 Hidden influence?
1:02:18 What should policy makers better understand about the financial markets?
1:06:21 Start of Q&A
1:06:39 Will the industry open up to non accredited investors?
1:08:13 Who are on the opposite end of the trade?
1:14:45 Biotech trend?
1:16:43 Economics and super heros?
1:18:55 Passive gives more potential for active managers?

Cliff Asness Books 🇺🇸📈 (affiliate link)
Short Selling
The Quants:

Interview Date: 18th November, 2015
Event: Mercatus Centre
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Dr. James Simons, S. Donald Sussman Fellowship Award Fireside Chat Series. Chat 1. February 27, 2019

S. Donald Sussman Fellowship Award Fireside Chat Series

2018-2019 Award Recipient

Dr. James Simons, SB '58
Founder and Chairman, Renaissance Technologies
Chairman, Simons Foundation
Founder and Chairman, Math for America


Math, Money, and Making a Difference

Part 1: Mathematics
Moderated by:
Tomasz Mrowka, SB '83
Professor of Mathematics, MIT

Wednesday, February 27, 2019

-------------------------------------------------------------------------

Part 2: Finance
Moderated by:
Andrew Lo
Charles E. and Susan T. Harris Professor, MIT

Wednesday, March 6, 2019

-------------------------------------------------------------------------

Part 3: Philanthropy
Moderated by:
Michael Sipser
Dean, School of Science, MIT

Wednesday, March 13, 2019

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About the 2018-2019 Award Recipient
Dr. James Simons, SB '58
MIT alumnus James (“Jim”) Simons is a mathematician and founder of the highly quantitative investment firm Renaissance Technologies where he served as CEO for over 30 years before becoming board chair. Simons also serves as chairman of the Simons Foundation, an organization dedicated to advancing the frontiers of research in mathematics and the basic sciences, and is the founder and chairman of Math for America, a nonprofit organization with a mission to significantly improve math education in our nation’s public schools. His most influential research involved the discovery and application of certain geometric measurements, now called the Chern-Simons Invariants, which have wide use, particularly in theoretical physics. Simons was selected to be the recipient of this fellowship for his remarkable contributions to the quantitative investment field, as well as his work in mathematics and his active support for fundamental scientific research.

Read more about the 2018-2019 Fellowship:


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About the S. Donald Sussman Fellowship

This fellowship is named in honor of S. Donald Sussman, who has worked in alternative investments for more than 35 years and manages funds that focus on both quantitative and fundamental strategies. He is the founder of the Paloma Funds, and New China Capital Management LLC. Mr. Sussman was named to Institutional Investor-Alpha Hedge Fund Hall of Fame in 2013 and has received other lifetime achievement awards for hedge fund investing. He attended Columbia College and received a BS and an MBA from New York University.

The Sussman Fellowship is overseen by the MIT Sloan Finance Group. Sussman Fellows receive a $100,000 cash prize and share their insights on quantitative finance and the financial industry through three public lectures to be delivered at MIT Sloan during the year of the award.

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