RenTec's Jim Simons on "From Quant to Riches"

he's 2-nd richest

Quote from Div_Arb:

Ever hear of Warren Buffet? He is all over the place all the time and never travels with a posse. He is also the 3rd richest person in the world and is arguably the best investor period.
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question: if they have a meeting weekly, does it mean that entire staff knows about the systems? I bet computer programist know EVERYTHING.. now, doesn't it mean that they can simply take those models and start their own funds?
Quote from indahook:

Correct. But more like 10`s of millions. He is a person we should all strive to be like.

Also I know a guy who works in the IT section of RenTec making sure nothing goes down. No better place to work in the entire world. Dream job.
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Quote from BARLI:

question: if they have a meeting weekly, does it mean that entire staff knows about the systems? I bet computer programist know EVERYTHING.. now, doesn't it mean that they can simply take those models and start their own funds?
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I do not think developers see full picture, otherwise what you mentioned would have happened. More likely they only see code pieces, and then 1 or 2 most trusted, probably partners put them together. The sever security must be nuts in this place.
 
Quote from RedDuke:

I do not think developers see full picture, otherwise what you mentioned would have happened. More likely they only see code pieces, and then 1 or 2 most trusted, probably partners put them together. The sever security must be nuts in this place.
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Words have it that only the very top knows the big picture. Don't be fooled. Town-hall meetings can't be very revealing.
 
I went to Forbes, they still show that Buffet #2

http://www.forbes.com/2007/03/07/bi..._07billionaires_cz_lk_af_0308billie_land.html


and they said that Helu made 19 billions last year, thats 19 times more that rentec quants and that mexican-lebanese dude doesnt seem to be a quant at all ;-)
Quote from Div_Arb:

Not anymore - Carlos Slim took over the #2 spot recently. Here's a link from none other than your buddy Jim Cramer if you don't believe it.

http://www.thestreet.com/_yahoopi/f...51631.html?cm_ven=QUIGO&cm_cat=FREE&cm_ite=NA
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Quote from eraci:
Town-hall meetings can't be very revealing.
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The 'town-hall meetings' are, AFAIK, assemblages to hear presentations by invited guest speakers, rather than company-wide discussions of strategy.
 
Quote from Div_Arb:

Ever hear of Warren Buffet? He is all over the place all the time and never travels with a posse. He is also the 3rd richest person in the world and is arguably the best investor period.
More...
Warren Buffett
 
Quote from RedDuke:

I do not think developers see full picture, otherwise what you mentioned would have happened. More likely they only see code pieces, and then 1 or 2 most trusted, probably partners put them together. The sever security must be nuts in this place.
More...
Actually...
That's not the way it would work.

There are 2 main things that keep operations "secret":

(1) Iron-clad non-disclosure agreements.
These are VERY enforceable in court...
And just the threats and fear factor is effective.

(2) Very few people can build a firm to compete with these guys...
Not some coder... not some quant with a PhD...
So few... maybe 1 in 10,000 people...
That it's not much to worry about.

What these guys are doing is not such a Big Secret anyway...
There are only so many ways to practice arbitrage...
Most things they are coding is just classic methodology...
The edge comes from execution, execution, execution.
 
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