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☆ An elite hedge fund slashed its Nvidia and Tesla bets last quarter — and boosted its GameStop stake
▼ + stars: | 2024-11-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The quant fund founded by the late Jim Simons cut its Tesla stake by 86% and halved its Nvidia wager. Renaissance Technologies cut its Tesla and Nvidia stakes and boosted its GameStop bet last quarter, it revealed in a portfolio update on Wednesday. RenTech, one of the biggest and best-performing hedge funds in history, pared its Tesla bet from about 2.1 million shares to 284,000 — an 86% reduction. The firm relies on algorithms to determine many of its trades, often resulting in sweeping changes to its stock portfolio each quarter. AdvertisementRenTech ramped up its GameStop bet by more than 40% to 1.9 million shares, worth $44 million at the quarter's close.

Persons: Jim Simons, RenTech, Elon, Tesla, Trump, codebreaker, Peter Thiel Organizations: Nvidia, GameStop, Technologies, Elon Musk's, Blackwell, Wall, MIT, Novo Nordisk Locations: Palantir, Novo, Danish

☆ AI robot’s portrait of Alan Turing that ‘challenges what it is to be human’ sets record, selling for $1.08 million
▼ + stars: | 2024-11-08 | by ( Issy Ronald | ) edition.cnn.com time to read: +5 min

The paintings depict British computer scientist, mathematician and codebreaker Alan Turing. “There’s a slightly apocalyptic view of AI art wiping out everybody. for good’ which led to Ai-Da bringing up Alan Turing as a key person in the history of A.I. “’AI God,’ a portrait of pioneer Alan Turing, invites viewers to reflect on the god-like nature of AI and computing while considering the ethical and societal implications of these advancements. Alan Turing recognised this potential, and stares at us, as we race towards this future,” the robot added.

Persons: Alan Turing, ”, Ai, Aidan Meller, Turing, Meller, “, Alastair Sooke, Pablo Picasso, ” Ai, Da, she’s, ‘, Turing’s, Sotheby’s Organizations: CNN, British Locations: New York, British, Cornwall, England, Turing’s

☆ Jim Simons, legendary hedge fund manager who cracked the market, dead at 86
▼ + stars: | 2024-05-10 | by ( Paul Squire | ) www.businessinsider.com time to read: 1 min

Jim Simons, the legendary hedge fund manager who founded the prolific Renaissance Technologies, died on Friday, according to the foundation he started. AdvertisementThe MIT math professor and former NSA codebreaker was 86 years old. "Jim was an exceptional leader who did transformative work in mathematics and developed a world-leading investment company," Simons Foundation president David Spergel said in a statement. This is a developing story. Please check back for updates.

Persons: Jim Simons, NSA codebreaker, Jim, David Spergel Organizations: Renaissance Technologies, NSA

☆ 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

☆ Britain's Cyber Spies Mark 80th Anniversary of Secret Code-Breaking Computer
▼ + stars: | 2024-01-17 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

LONDON (Reuters) - Britain's GCHQ spy agency celebrated the 80th anniversary of Colossus on Thursday, putting the spotlight on a code-breaking computer which helped defeat Hitler's Germany and was so significant it was kept secret for decades. Colossus, which was still being used by the spy agency in the early 1960s, was developed by Tommy Flowers. The new images released on Thursday include a blueprint of Colossus and a photograph of Women's Royal Naval Service workers operating it. The first Colossus was delivered to Bletchley Park, then the home of the top secret Government Code and Cypher School, on Jan. 18 1944. The unit was renamed in 1946 as the Government Communications Headquarters (GCHQ), a Cheltenham-based agency that eavesdrops on the world to protect British security.

Persons: Hitler's, Hitler, Colossus, Anne Keast, Butler, Tommy Flowers, Alan Turing's, Sarah Young, William Maclean Organizations: Allied, Royal Naval Service, Cypher, Government Communications Headquarters Locations: Hitler's Germany, Bletchley, Cheltenham

☆ A woman bought a vintage dress at an antique store. It had a secret pocket with a mysterious note
▼ + stars: | 2024-01-15 | by ( Faith Karimi | ) edition.cnn.com time to read: +8 min

CNN —The Victorian dress in the Maine antique mall was unlike anything Sara Rivers Cofield had seen before. Rivers Cofield had no idea that the dress she bought in December 2013 would unravel a mystery a decade later. Rivers Cofield was baffled, she told CNN. He also emailed Rivers Cofield, who did not know that online sleuths were still working to decipher the codes. But for now, Chan and Rivers Cofield are just glad they’ve unraveled the biggest piece of the dress’s mystery.

Persons: Sara Rivers Cofield, Rivers, Rivers Cofield, Fagan, Bennett, Shakespeare’s, ”, she’d, “, sleuths, Cofield, ” Rivers Cofield, I’m, Wayne Chan, didn’t, ” Chan, Chan, Sara Rivers, “ Bismark, “ Buck ”, he’s, “ I’m, It’s, they’ve Organizations: CNN, University of Manitoba, Army Corps, National Oceanic, Atmospheric Administration Locations: Maine, Calgary, Cuba, Bennett, Rivers, Chesapeake Beach , Maryland, Searsport , Maine, United States, ”, Canadian, Canada, North America, Bismarck, North Dakota, Washington ,, Chan

☆ The CEO of a hedge fund that averaged a 66% return for 3 decades spoke about investing, hiring, and sleeping 2,000 nights in his office. Here are the 11 best quotes.
▼ + stars: | 2023-09-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Brown had the idea for IBM's "Deep Blue," and has spent over 2,000 nights sleeping in his office. RenTech was founded by Jim Simons, a former MIT math professor and Cold War codebreaker. Peter Brown is the CEO of Renaissance Technologies, a quant fund founded by former Cold War codebreaker and MIT math professor Jim Simons. And the job is so demanding, I really don't see how I could do it otherwise." We don't know any economics.

Persons: Peter Brown, Brown, RenTech, Jim Simons, Goldman, he's, he'd, Peter, we're, we've Organizations: Renaissance, MIT, Service, Goldman Sachs Exchanges, Renaissance Technologies Locations: Wall, Silicon, York

☆ Jim Simons' RenTech fund virtually eliminated its $500 million Tesla stake last quarter - and slashed its Twitter bet by 90%
▼ + stars: | 2022-11-16 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Renaissance Technologies eviscerated its Tesla and Twitter stakes last quarter. Jim Simons' quant fund also slashed the value of its Twitter bet from around $94 million to below $11 million. The quantitative fund pared its Tesla position from a split-adjusted 2.2 million shares valued at $504 million at the end of June, to only 1,400 shares worth less than $400,000 at the end of September. Moreover, it cut its Twitter stake from 2.5 million shares worth $94 million at the midpoint of this year, to 248,000 shares valued around $11 million on September 30. On the other hand, it boosted its Airbnb bet by 30% to 7.3 million shares, meaning the home-rental platform jumped from its 17th-largest holding to number four on the list.

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