According to PANews, James Harris Simons, co-founder and honorary chairman of the Simons Foundation, died in New York on May 10, 2024 at the age of 86. Simons is an award-winning mathematician and a legend in the field of quantitative investment. In his 40s, he switched from academia to the investment world, founded Renaissance Technologies, pioneered quantitative trading, and became one of the most profitable investment companies in history.
Over the past 30 years, his returns have consistently outperformed the market, with the most famous Medallion Fund having a return more than four times that of the S&P 500. From 1988 to 2023, even after deducting high fees, the fund's average annual return has reached an astonishing nearly 40%. Simons relies on mathematical models and computers to manage his huge funds, using mathematical models to capture market opportunities and computers to make trading decisions. He calls himself "Mr. Model" and believes that models can effectively reduce risks compared to personal investments.
