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☆ Jim Simons, billionaire quantitative investing pioneer who generated eye-popping returns, dies at 86
▼ + stars: | 2024-05-10 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Jim Simons, a mathematician who founded the most successful quantitative hedge fund of all time, passed away on Friday in New York City, his foundation announced on its website. Pioneering mathematical models and algorithms to make investment decisions, Simons left behind an otherworldly track record at Renaissance Technologies, that bested legends such as Warren Buffett and George Soros. Its flagship Medallion Fund enjoyed annual returns of 66% during a period starting in 2018, according to Gregory Zuckerman's book "The Man Who Solved the Market." Simons received a bachelor's degree in mathematics from MIT in 1958, and he earned his PhD in mathematics from University of California, Berkeley at the age of only 23. He was active in the work of the Simons Foundation until the end of his life.

Persons: Jim Simons, Simons, Warren Buffett, George Soros, Gregory Zuckerman's Organizations: Renaissance Technologies, flagship Medallion Fund, U.S, Intelligence, Soviet Union, MIT, University of California, Stony Brook University, Simons Foundation Locations: New York City, Vietnam, Soviet, Berkeley, Stony, New York

☆ Jim Chanos, Short Seller Who Took on Enron and Tesla, to Close Hedge Funds
▼ + stars: | 2023-11-18 | by ( Gregory Zuckerman | Peter Rudegeair | ) www.wsj.com time to read: 1 min

Wall Street’s best-known bear is going into hibernation. After nearly four decades, Jim Chanos is shutting down hedge funds he manages that wager against companies he believes are overpriced or fraudulent. His career as a short seller spanned a contrarian bet against Enron that paid off when the energy trader collapsed as well as yearslong, money-losing campaigns against Tesla and AOL.

Persons: Wall, Jim Chanos Organizations: Enron, Tesla, AOL

☆ Hedge Fund Two Sigma Is Hit by Trading Scandal
▼ + stars: | 2023-10-29 | by ( Gregory Zuckerman | Juliet Chung | ) www.wsj.com time to read: 1 min

Two Sigma, co-founded by David Siegel, is attracting fresh regulatory scrutiny. Photo: Jeenah Moon/Bloomberg NewsA researcher at Two Sigma Investments adjusted the hedge fund’s investing models without authorization, the firm has told clients, leading to losses in some funds, big gains in others and fresh regulatory scrutiny. The researcher, Jian Wu, a senior vice president at New York-based Two Sigma, was trying to boost his compensation, Two Sigma has told clients, without identifying Wu. He made changes over the past year that resulted in a total of $620 million in unexpected gains and losses, according to people close to the matter and investor letters. Two Sigma has placed Wu on administrative leave.

Persons: David Siegel, Jian Wu, Wu Organizations: Sigma, Bloomberg, Sigma Investments Locations: New York

☆ Nobel Prize winner Katalin Karikó was 'demoted 4 times' at her old job. How she persisted: 'You have to focus on what's next'
▼ + stars: | 2023-10-06 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +6 min

On Monday, Karikó, along with her collaborator Drew Weissman, won the Nobel Prize in Physiology and Medicine. It's clear, and impressive, that Karikó didn't take those obstacles personally. Suhadolnik didn't receive the news well, she says. If you have a Ph.D. from an American Ivy League [university], that's better compared to if you have a degree from a foreign university." The type of work Karikó does, Feigl-Ding says, doesn't make splashy headlines, because groundbreaking work rarely does.

Persons: Pfizer Covid, Katalin, Drew Weissman, Karikó, didn't, Robert J, Suhadolnik, Susan, Suhadolnik didn't, Gregory Zuckerman's, I'm, wasn't, Eric Feigl, Ding, doesn't, Nobel, Albert Einstein didn't, Ding epidemiologist, Weissman Organizations: Pfizer, Moderna, CNBC, University of Pennsylvania, University of Szeged, Biological Research, Temple University, Uniformed Services University of, Health Sciences, New, Systems Institute, Harvard Medical School, American Ivy League, Universities, Systems, Harvard Medical Locations: Hungary, Philadelphia, Bethesda , Maryland, UPenn, United States, U.S, New England

☆ After Shunning Scientist, University of Pennsylvania Celebrates Her Nobel Prize
▼ + stars: | 2023-10-04 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: pennsylvania

☆ Dan Loeb’s Hot Hand Goes Cold
▼ + stars: | 2023-09-29 | by ( Gregory Zuckerman | Peter Rudegeair | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/investing/dan-loeb-third-point-hot-hand-goes-cold-5a2fb19

Persons: Dow Jones, loeb

☆ Wall Street All-Stars Including Weinstein, Ackman Bid for Hedge Fund
▼ + stars: | 2023-08-21 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/wall-street-all-stars-including-weinstein-ackman-bid-for-hedge-fund-833726e0

Persons: Dow Jones, weinstein

☆ For This Venture Capitalist, Research on Aging Is Personal; ‘Bob Has a Big Fear of Death’
▼ + stars: | 2023-08-20 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/health/wellness/for-this-venture-capitalist-research-on-aging-is-personal-bob-has-a-big-fear-of-death-519a091

Persons: Dow Jones, 519a091

☆ This Hedge Fund’s Two Feuding Founders Are Under Pressure to Make Peace
▼ + stars: | 2023-08-09 | by ( Gregory Zuckerman | Juliet Chung | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/this-hedge-funds-two-feuding-founders-are-under-pressure-to-make-peace-6e9dad93

Persons: Dow Jones, 6e9dad93

☆ Soros Foundation to Cut Staff by 40%
▼ + stars: | 2023-07-03 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/soros-foundation-to-cut-staff-by-40-2947451a

Persons: Dow Jones

☆ Inside the Escalating Feud at One of Wall Street’s Biggest Hedge Funds
▼ + stars: | 2023-06-20 | by ( Juliet Chung | Gregory Zuckerman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/inside-the-escalating-feud-at-one-of-wall-streets-biggest-hedge-funds-a6e09853

Persons: Dow Jones

☆ A war between 2 billionaire hedge-fund founders spilled out into the open in an alarming filing
▼ + stars: | 2023-06-20 | by ( Matt Turner | ) www.businessinsider.com time to read: +3 min

John Overdeck and David Siegel created hedge-fund giant Two Sigma, amassing billions in wealth. Here's the relevant section of the filing:There have been a variety of management and governance challenges at the Adviser. These disagreements can affect the Adviser's ability to retain or attract employees (including very senior employees) and could continue to impact the ability of employees to fully implement key research, engineering, or corporate business initiatives. Nor can it agree on the org chart, the management structure, corporate governance, or succession plans. These disagreements might hurt Two Sigma's ability to retain and attract star employees, and those employees' ability to actually implement research, tech, or business initiatives.

Persons: John Overdeck, David Siegel, Juliet Chung, Gregory Zuckerman, Chung, Zuckerman, Jamie Nash, Kleinberg Kaplan, I've Organizations: Sigma, Bloomberg, Wall Street, Management, Management Committee, Chief Investment Officers

☆ George Soros Hands Control to His 37-Year-Old Son: ‘I’m More Political’
▼ + stars: | 2023-06-11 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/george-soros-heir-son-alexander-soros-e3c4ca13

Persons: Dow Jones, george, soros, alexander, e3c4ca13

☆ Who Is James Gorman? Morgan Stanley CEO, Taylor Swift Booster
▼ + stars: | 2023-05-20 | by ( Justin Baer | Gregory Zuckerman | ) www.wsj.com time to read: 1 min

☆ AI Can Write a Song, but It Can’t Beat the Market
▼ + stars: | 2023-04-12 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/ai-can-write-a-song-but-it-cant-beat-the-market-6df50efd

Depositors were draining their accounts via smartphone apps and telling their startup networks to do the same. But inside Silicon Valley Bank , executives were trying to navigate the U.S. banking system’s creaky apparatus for emergency lending and to persuade its custodian bank to stay open late to handle a multibillion-dollar transfer. The depositors won the race. Regulators shut down SVB around the time a multibillion-dollar cash infusion was set to arrive, marking the second-largest bank failure in U.S. history.

☆ WSJ's Gregory Zuckerman: The red flags SVB ignored
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWSJ's Gregory Zuckerman: The red flags SVB ignoredGregory Zuckerman, the Wall Street Journal, joins 'The Exchange' to discuss the early signs of the SVB collapse.

Silicon Valley Bank was a center of gravity in the tech industry. Its bankers understood technology and were eager to support unproven companies. They gave advice to executives and made personal loans to them, helping them splurge on homes and vineyards. The bankers hosted poker games, cooking classes, boat parties and mixers that brought together entrepreneurs and investors.

Investors were worried that the fastest interest-rate increases in decades meant that something in the economy might break. Last week, it did. Now, investors are asking: What else might crack?

Bed Bath & Beyond’s storied brand and the passionate interest of individual investors helped the retailer secure a lifeline. Sue Gove wanted to keep Bed Bath & Beyond Inc. out of bankruptcy. Few believed it was possible. Alarmed by the retailer’s deteriorating finances, banks in January had cut off their credit lines and pushed for the company to start a liquidation, including selling off inventory, to repay their loans, said people familiar with the matter.

☆ The Investor Behind the $1 Billion Bet on Bed Bath & Beyond
▼ + stars: | 2023-02-08 | by ( Gregory Zuckerman | Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond is shutting dozens more stores as part of its plan to stay in business. Why would a well-established hedge fund and other investors spend as much as $1 billion to purchase the equity of a retailer on the verge of bankruptcy—a move that could wipe out that equity? That is what some on Wall Street are asking after Hudson Bay Capital Management and others agreed to invest in struggling Bed Bath & Beyond Inc.

☆ Big Hedge Funds Are Top Performers, for a Change
▼ + stars: | 2023-01-19 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/big-hedge-funds-are-top-performers-for-a-change-11674094967

The cryptocurrency crunch is so bad even the pros are getting squeezed. A year ago, Barry Silbert ’s 40% stake in Digital Currency Group Inc., or DCG, was valued at more than $3 billion. A crypto conglomerate, with tentacles in nearly every corner of the industry from lending to bitcoin mining, DCG worked out of plush Connecticut offices featuring a marble-countertop kitchen with a coffee barista and a French chef.

Sam Bankman-Fried built the cryptocurrency exchange FTX on the reputation of his trading firm, Alameda Research LLC. Alameda was applying Wall Street-style wizardry to the crypto world—and outsiders thought it was winning big. But little was known beyond the firm about its trades, which included a lucrative early bet involving bitcoin in Japan. Alameda had no outside investors and didn’t disclose its performance.

☆ Early Alameda Staffers Quit After Battling Sam Bankman-Fried Over Risk, Compliance Concerns
▼ + stars: | 2022-11-30 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

Years before Sam Bankman-Fried ’s crypto empire collapsed, a group of employees quit in a power struggle—after becoming concerned about what they say was his cavalier approach to risk, compliance and accounting. The employees worked at his trading firm, Alameda Research, and were some of his earliest colleagues, including Alameda’s co-founder, Tara Mac Aulay . They left in 2018, well before the crypto exchange FTX grew out of Alameda. Both FTX and Alameda are now bankrupt.

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