The Man Who Solved the Market- How Jim Simons Launched the Quant Revolutions

Jim Simons journey in establishing one of the most profitable funds

Fred Wilson wrote in his blog (AVC)

A CEO does only three things. 1) Sets the overall vision and strategy of the company and communicates it to all stakeholders. 2) Recruits, hires, and retains the very best talent for the company. 3) Makes sure there is always enough cash in the bank.

I believe one of the key reasons why the Medallion fund (managed by Renaissance Technology) generates huge returns is because of Mr. Simons’ ability in task 2 above. You know, finding great talents is not easy and Jim Simons consistently demonstrates that he is able to do so.

I learned through this book that finding great talents is a challenge, but managing brilliant talents and make sure that they’re working in harmony like a conductor in an orchestra is another huge challenge.