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