Billionaire investor James Simons, the mathematician and Cold War code-breaker who founded one of the world's most prominent and profitable hedge funds, Renaissance Technologies, has died, his foundation said Friday.
Billionaire investor James Simons, the mathematician and Cold War code-breaker who founded one of the world's most prominent and profitable hedge funds, Renaissance Technologies, has died, his foundation said Friday. Simons, who was 86, founded in 1978 what would become the hedge fund Renaissance Technologies. The top-performing firm only hired scientists to develop its trading strategies, all of which were executed entirely by computers.
Renaissance became one of the world's most successful hedge funds under Simons, who retired and stepped down as CEO in 2010. The 2019 book, "The Man Who Solved the Market," a biographical account of his life by Gregory Zuckerman described Simons as someone who viewed the markets as a code to be cracked. He collected and scrubbed enormous amounts of data in the search for statistically significant patterns.
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