Renaissance Technologies Moving Into Futures

Quote from Avid_Consumer:

i thought the comment at the bottom of this story was interesting. maybe their big trade secrets really aren't that profound or airtight after all

http://www.marketwatch.com/news/sto...x?guid={888C790C-B121-414F-B30D-CEBE8DB0C71B}

Volfbeyn said that the trade secrets Renaissance has been working to protect "are nothing more than general ideas that are well known to people familiar with statistical arbitrage and quantitative finance."
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It has been speculated that most the of the phd`s and math genius hires are smoke and mirrors.....
 
Quote from SWScapital:

It has been speculated that most the of the phd`s and math genius hires are smoke and mirrors.....
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Works great so far ...
 
Quote from THE-BEAKER:

this is one of the big problems with these people.

like ltcm , they are so convinced they are right that when the time comes to bail out of shit positions they cant pull the trigger.

most traders including myself just know when its time to get out.

these guys have not got any traders to tell them their trades might be a wrongun.

they just keep averaging in until the fed bails them out.
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Actually, they are NOTHING like LTCM. And they will NOT need a bailout anytime soon, b/c of excellent risk mgt. They don' t average down either.

If you read RenTech's interview in II(institutional investor) back in 2000, Simons even explicitly said their strategies are NOTHING like LTCM. He even doubts the validity of such LTCM strategies.

Ironically, they are much closer to TA. But scientific driven TA.

99
 
yeahh damn right.

they use the scientific moving average cross coupled with a scientific profit target and a scientific stop loss.

:D
 
Quote from asap:

yeahh damn right.

they use the scientific moving average cross coupled with a scientific profit target and a scientific stop loss.

:D
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LOL..

I think he meant price action based strats. I would tend to agree. Trading at such high freqs you would have to ignore news..er ah gossip and fundies. A quantitative approach is much closer to TA than the geeks want you to believe.
 
These were my favorite two lines:

The group's flagship $6bn Medallion fund, which trades in a lot of futures, has been quickly overtaken in growth by its newer Renaissance Institutional Equities Fund, which was launched two years ago and trades only in stocks.

The Medallion fund now contains mostly Mr Simons' own money and that of Renaissance employees.

The guy is basically trading his own 6 billion dollar book. That is insane.
 
Quote from Maverick74:

These were my favorite two lines:

The group's flagship $6bn Medallion fund, which trades in a lot of futures, has been quickly overtaken in growth by its newer Renaissance Institutional Equities Fund, which was launched two years ago and trades only in stocks.

The Medallion fund now contains mostly Mr Simons' own money and that of Renaissance employees.

The guy is basically trading his own 6 billion dollar book. That is insane.
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If you wiki "Big Swingin Dick" you will get a picture of James Simmons.

Unreal.
 
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