Jim Simons’ Renaissance Pulled $1.2 Billion Out of Tesla and Slashed Its Starbucks and Amazon Stake

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dealmaker

Jim Simons’ Renaissance Pulled $1.2 Billion Out of Tesla and Slashed Its Starbucks and Amazon Stakes Last Quarter (Business Insider)
Renaissance Technologies, one of the world’s biggest and best-performing hedge funds, slashed its stakes in Tesla, Amazon, and Starbucks in the first quarter. RenTech, founded by Cold War codebreaker and MIT math professor Jim Simons, suffered a 22% plunge in the value of its stock portfolio to about $101 billion, according to a Securities and Exchange Commission filing this week. The decline was largely due to the coronavirus pandemic hammering many of the quantitative fund’s more than 3,400 holdings, but also reflected some major stock sales.
 
dealmaker said:
Jim Simons’ Renaissance Pulled $1.2 Billion Out of Tesla and Slashed Its Starbucks and Amazon Stakes Last Quarter (Business Insider)
Renaissance Technologies, one of the world’s biggest and best-performing hedge funds, slashed its stakes in Tesla, Amazon, and Starbucks in the first quarter. RenTech, founded by Cold War codebreaker and MIT math professor Jim Simons, suffered a 22% plunge in the value of its stock portfolio to about $101 billion, according to a Securities and Exchange Commission filing this week. The decline was largely due to the coronavirus pandemic hammering many of the quantitative fund’s more than 3,400 holdings, but also reflected some major stock sales.
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Yet Renaissance Technologies’ other funds have not fared so well in 2020. Even after bouncing back in the first half of April, the three funds — Renaissance Institutional Equities Fund, Renaissance Institutional Diversified Alpha, and Renaissance Institutional Diversified Global Equities Funds — were each down between 7 and 9 percent for the year through April 17.
 
Metamega said:
3400 holdings. I’m generally intrigued how they beat the market when that diversified.

Way they count option positions?
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shit how many traders they need to manage that many

its crazy to see though that the big boys are no exceptions in losing, the market doesnt care about your size
 
Is there one hedge fund or etf or anything that doesn't own Amazon tesla or Starbucks? Geez. Amazon is the entire world now.. how long that can last is anyone's guess. They used to say sears was the amazon of its time......
 
101 billion. in 3400 issues. come on this fund just bids up whichever one they want momentum on at technical levels they create then all the other saps step on board and reni sits back rides the wave and sells into the buying. mkt is only 20 trillion! 20,000 billion.
they also do a shit ton of hft and arb globally.
22 traders or employess its all computers now
 
tradingismybusiness said:
101 billion. in 3400 issues. come on this fund just bids up whichever one they want momentum on at technical levels they create then all the other saps step on board and reni sits back rides the wave and sells into the buying. mkt is only 20 trillion! 20,000 billion.
they also do a shit ton of hft and arb globally.
22 traders or employess its all computers now
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I dont think they can get out fast enough if they bid up what they r buying

plus 100b is not
Much compared to the market
 
tradingismybusiness said:
101 billion. in 3400 issues. come on this fund just bids up whichever one they want momentum on at technical levels they create then all the other saps step on board and reni sits back rides the wave and sells into the buying. mkt is only 20 trillion! 20,000 billion.
they also do a shit ton of hft and arb globally.
22 traders or employess its all computers now
More...


For reals 22 employees only or your joking?
 
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