THE MAN WHO SOLVED THE MARKET : HOW JIM

SIMONS LAUNCHED THE QUANT REVOLUTION PDF,

EPUB, EBOOK

Gregory Zuckerman
384 pages
05 Nov 2019
PORTFOLIO
9780735217980
English
United States
The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution
by Gregory Zuckerman
Much of the book is about the supporting cast, who thankfully were all weirdos. Leave a Reply Cancel reply. Ill Winds. Greg Zuckerman has done
a great job giving readers a peak inside the secretive world of Jim Simons and Renaissance Technologies hedge fund operations. Why Nations
Fail. Be patient. The Four. Another is the tough-acting Russian researcher Alexander Belopolsky that suddenly appears, is described as a bit of a
problem child, apparently changes the whole atmosphere of the company, and then leaves for Izzy Englander's Millenium Capital: A lone
parenthesis mentions that people close to him disagree with the portrayal given in the book, but this is never explored, nor is the clearly significant
changes he caused to the culture and development of the firm. It's a must-read because it's RenTec and because it highlights a quote from Gary
Shteyngart who wrote the satirical book Lake Success , my favorite of but if this can't be it, I doubt we'll ever get the modern-day trading classic
we've been waiting for. The bias toward rationalism was so pervasive that it was the primary cause of the financial crisis, which demonstrated just
how irrational rationality could be. But Zuckerman also does Zuckerman is a superb spinner of complex stories, his latest book is no exception.
Lauren Etter. It is that rare book that will appeal to both charterholders and a general audience. The story Zuckerman tells is about how Simons
and the mathematicians and programmers he surrounded himself with found those variables. The fund does use leverage but it is for trading in
smaller diversified trades in volume not making large bets on any one trade in size. Within the social sciences, financial economists are generally
Rationalists. Looking for More Great Reads? Thanks for this interesting review, Bill. As Renaissance became a market force, its executives began
influencing the world beyond finance. Discover the Must-Read Books of Investments Do clients need to care about a 'taper tantrum'? Your
account has been created. I was surprised to learn how little competition the firm faced at least Fairly shallow overview of the Renaissance hedge
fund company, especially on founder Jim Simons. Fooled by Randomness. The companies they command are mere replaceable cogs in a language
of financial numbers. How to Avoid a Climate Disaster. I guess by now there are enough ex-employees willing to share company secrets. Original
Title. Zuckerman has spun a page-turning yarn that will both delight and inform readers of all stripes and expertise. There is literally no reason to
believe his correlations are stable. The author seems concerned with how much tall the guys are, what food did they brought to work, the brand of
the cigarettes smoked by Simons, how much money did they play in poker, the back story about the sons and daughters of the employees. All
posts are the opinion of the author. This book is an account of journey of Renaissance Technologies , a quant based hedge fund. At age 50, Jim
looks like he hasn't got much achieved. Dec 17, Clark B. The year-old Simons can be engaging in person , with a wry sense of humor he may also
be the last man in America who still smokes in his office. At least until one big enough occurs that is worthy of newsprint, airtime, or blog space.
How people grate each other in spite of having no material shortcomings. If you, like me, have already scoured the interwebs for tidbits on Jim
Simons and his Long Island quant shop, then there is not too much new stuff here in terms of the history of the company, but the story is still nice to
revisit, and there are insights not presented anywhere, in particular some viewpoints from Magerman that elucidate his position and why he acted
like he did. I read it in 10 hours or so, at least 8 were a waste of time. The second is an example of Empiricism, which claims that facts precede
and produce laws. Refresh and try again. It then brought the skills of world-class mathematicians and supercomputer-equipped data scientists to
bear on these data within a multidimensional matrix to reveal correlations and patterns invisible to the naked eye in a looping optimization process
that repeated several times per hour. Also by Gregory Zuckerman. Your email address will not be published. The theory assumed that the new
methods would eliminate human errors. This book explains it all. The book focus on Renaissance but goes beyond and describes also the Quant
competition and the landscape over the past 50 years. The author pays homage to many significant points in the history of quantitative trading while
providing a clear idea of Renaissance Technologies' place in it all. Skin in the Game. The theory, therefore, became a self-fulfilling prophecy - and
the prophecies came true until the world discovered that its rationality was no more than a conventional fiction. The grumpus23 word commentary
This is my dream. The author has done a good job taking some bare facts and critical details and weaving a narrative around them. Deus Vult,
Gottfried. Hardcover —. Financial economics worked, while it worked, largely because big investors felt compelled by academic theory to act
rationally. We've got you covered with the buzziest new releases of the day. There's one or one and a half chapter talking about Mercer and his
political donations and about the election. However, there are some weird, yet possibly not incorrect, discrepancies that seem to linger throughout
the work. What they did was really historic because it was for the first time in history that someone use probability and statistics models to trade,
which has so many advantages compare to traditional trading. Mercer also impacted the campaign behind Brexit. Absent even one of them, the
enterprise would not have excelled as it did. It's goosebumpy all the way! Whatever is happening at quant funds right now is probably way beyond
any of that convolutional neural networks that count cars in Walmart's parking lots, that sort of thing.

What I'm reading: The Man who Solved the Market -

The chapter detailing Bon The book focus on Renaissance but goes beyond and describes also the Quant competition and the landscape over the
past 50 years. I won't be surprised if this is made into a movie in this age of machine learning and AI Financial Adviser. I hope Simons lives long
enough to see the consequences of helping Mercer to his billions. Jonah Goldberg. It doesn't dig deep into the math, the importance of discoveries
by Simons and his PhD friends. Fund managers, banks, and other fiduciaries had a duty to act rationally on behalf of their clients. Decoding the
randomness of life and making money in the process. Select articles are eligible for Professional Learning PL credit. However, what we already
knew about RenTec, unfortunately, is pretty close to nothing - a few haphazard facts, the names of the most important people, that they run
statistical arbitrage on steroids. It seems that it can be applied everywhere. Very disappointing. The Rationalist benefits by the widespread use of
his theory; the Empiricist by the strict secrecy of his programmes. Simons became a major figure in scientific research, education, and liberal
politics. Turns out they rode the market up: their returns have been stellar forever, but prior to it was on the kind of money on which you can do
RV. Investments Industry veteran Alan Steel passes away. Page 1 of 2 Previous Next. If you like biographies focused on year by year events you
will enjoy it. Financial chartists or technical analysts if one prefers are Empiricists. This book does not contain any algorithms used by RenTech but
lays out the thought process of it's founders in the form of a story. Once discovered, these relationships never vary. I was still kind of pissed about
the Trump stuff but the end of the book is prescient regarding the current state of the industry and the current angles data people at trading firms
are exploring. My great uncle was Fischer Black who devised the options pricing model which is arguably a central concept of financial economics
in theory and in practice. The theory assumed that the new methods would eliminate human errors. Investments Do clients need to care about a
'taper tantrum'? Particularly distasteful was the attitude toward Bob Mercer's role in helping Donald Trump get elected. And the new chartism
works. The problem of course is that no one knows why the various correlations, connections, and intersections of data work when they do. The
author has done a good job taking some bare facts and critical d Show me the money! Zuckerman, a writer for The Wall Street Journal, says he
became fixated with cracking the Simons code. Investors who employ the chartist strategy will never know if they are, quite literally, entering
uncharted territory. But the story lays of struggles of the super smart guys and serves as an inspiration for developing own thought process and
more importantly implementing it. I would recommend this to people who are interested in Biographies, Investment, Wall-Street. Finally, the
writing is often not very smooth, and there are numerous small mistakes in the text, such as repeated words and awkward sentences. Jim Simons
Renaissance Technologies has been the greatest money making operation in the modern financial markets. Gregory Zuckerman. That is not to take
anything away from the book, however, and the speed at which I read it indicates I probably liked it plenty more than I care to admit. If they
matter they should be right, if they don't they shouldn't figure. Liaquat Ahamed. The employees have always consisted of mathematicians and
physicists — many of whom have PhDs. It took him and his colleagues about 13 years to build a secret and complex model which is able to find
delicate patterns in the market and they gain billions of dollars. If you already wasted your time digging for irrelevant trivia about the Mount
Olympus of quantitative finance, then this is mostly just SparkNotes. I have read many finance and finance history books and this was a
disappointment. Paperback , pages. Zuckerman leaves it to the reader to pose these questions: Were quantitative hedge fund managers to
suddenly disappear, would they be missed? About Gregory Zuckerman. Clearly, the quant hedge fund business has little to do with the primary
societal purpose of capital markets — the efficient allocation of capital to productive enterprises. The Man Who Solved the Market is a portrait of
a modern-day Midas who remade markets in his own image, but failed to anticipate how his success would impact his firm and his country.
However, we stopped responding to the messages once we realized that they were written so as to fool us into thinking the firm was RenTec,
which Jim Simons founded and is the subject of this book. Be guided by beauty. Readers also enjoyed. So, as much for the general interest market
as it is for professionals. We see signal where there is only noise, we anchor our expectations, we become emotionally invested in our choices.
Absent even one of them, the enterprise would not have excelled as it did. I advised him that they were in all probability a fraud and he should get
a real job at a real Wall St. Looking at companies or sectors is irrelevant. Gregory Zuckerman. View 2 comments. Welcome back. Published
November 7th by Portfolio Penguin first published November 5th Financial economists and chartists view each other as fools and hucksters. Your
account has been created. Tim Higgins.