Re:Renaissance Technologies
by auntienomen on Monday November 11, 2019 @12:40PM
(#21506830)
Medallion also had a few external investors until 2010ish, who could be a source for some of the numbers. IIRC, Bill Ziemba published their returns in the mid 2000s sometime.
Also, what Princeton Alpha offshoots? IIRC, Princeton Alpha was a PDT spinoff that closed due to poor performance. Maybe you mean Princeton/Newport offshoots?
Re:Renaissance Technologies
by throwawaymath on Monday November 11, 2019 @01:10PM
(#21507143)
Yes, I meant Newport. The Thorpe folks and such.
Just out of curiosity, are there any successful Princeton/Newport/Thorpe offshoots aside from the usual one in Irvine?
Just the one in Irvine I think. Apparently they kept most of their staff from P/NP.
Re:Renaissance Technologies
by deepnotderp on Monday November 11, 2019 @01:30PM
(#21507363)
He probably means tgs and co
In particular: RenTech likes to keep a handle on this publicity for the purposes of courting extremely good talent from academia and industry. That's the only reason the Medallion returns are ever intentionally publicized. Anyone investing in RenTech's other funds knows full well they're not getting the alpha powering Medallion's returns.
Simons would probably have preferred to stay entirely under the radar, but the cat's out of the bag already and has been for decades. The most successful hedge funds (like the Princeton Alpha offshoots) don't court publicity because they don't need to pool risk with outside investors. They're not even hedge funds in the common sense of the term; they're proprietary trading firms run on employee and partner capital. Medallion can be thought of a prop shop within a hedge fund in that way.