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Legendary Quantitative Investor James Harris Simons Passes Away At 86

11/05/2024 07:44

According to PANews, James Harris Simons, co-founder and honorary chairman of the Simons Foundation, passed away in New York on May 10, 2024, at the age of 86. Simons was a highly decorated mathematician and a legendary figure in the field of quantitative investment. He transitioned from academia to the investment world in his 40s, founding Renaissance Technologies and pioneering quantitative trading. Renaissance Technologies has become one of the most profitable investment companies in history, earning Simons the title of 'King of Quant'. Over the past 30 years, his returns have consistently outperformed the market. The most famous Medallion Fund has achieved returns four times higher than the S&P 500 index. From 1988 to 2023, even after deducting high fees, the fund's average annual return rate reached an astonishing nearly 40%. Unlike Warren Buffet's 'value investing', Simons relied on mathematical models and computers to manage his massive funds. He used mathematical models to capture market opportunities and let computers make trading decisions. He referred to himself as 'Mr. Model', believing that models can effectively reduce risk compared to individual investing.

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