Quote from omcate:
I get all the data from the following web sites:
Much of what Simons says in interviews is misdirection,
pure and simple. His public statements are rife with
contradictions, obfuscations, inside jokes, and nonsense.
Rentec is VERY secretive. You can't rely on what you can
find out with a Google search.
Quote from omcate:
the inception time for Medallion Fund was Mar 1988.
Yes, as Axcom run by Elwyn Berlekamp. Berlekamp did
not sell his interest to Rentec until Dec 31, 1990. Berlekamp,
C. Shannon's reseach assistant, was the brains behind
the funds trading style. At that time Simons was running
longer term factor models (fundamentals) in his main
fund, which I think was called Limroy. That fund started
before Rentec, in 1978 and then after Axcom changed to
Medallion, you never heard of it.
That happens to a lot of Simons' funds. The mortgage
fund was called Matrix. Besides Equimetrics, there was
a long/short fund that ran from 1995 to 1998 I think,
and then was folded. There was a venture cap fund
started right at the exact peak of the tech boom. Where
is that one now? And don't forget the internal fund-of-
funds, for which Simons claimed higher risk-adjusted
returns than for Medallion itself. The list goes on...
Axcom/Medallion started at 20% incentive, not 44%.
The high fees came later, when it could barely be called
a public fund. It has been closed to new money since
1993, and the last of the outside money was given back
at the end of 2005.
.
). But I am a little shocked.