We're pausing our normal algorithmic trading coding session to pay a special tribute to the greatest quant of all time who recently passed. Jim Simons was the legendary founder of Renaissance Technologies (RenTech). RenTech's famous Medallion Fund has achieved a 66% average annualized return from 1988 to 2023. In this QS Newsletter, we recap the career of the legend Jim Simons with 10 videos to learn from Jim's quant wisdom.

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#1. The mathematician who cracked Wall Street | Jim Simons TED Talk Interview

To learn about Jim Simon's career going from a mathematical prodigy who was recruited by the National Security Agency (NSA) to founding Renaissance Technologies, a hedge fund know for its sophisticated quantitative trading models.

#2. James Simons (full length interview) - Numberphile

This is the full length interview (1+ hour) that covers Jim Simon's life from his academic career, defense career, transition to money management, inspiration in machine learning and finance, philosophy on mathematics and it's relationship to success in finance, and more insights from his personal life.

#3. Renaissance Technologies - Trading Strategies Revealed | A Documentary

This video covers a unique perspective on how Jim Simons built his business, RenTech, and grew it to become the most profitable hedge fund in terms of return percentage of all time. Also how RenTech had to transition from fundamental to quantitative, starting with simple mean reversion.

Number #4. Secrets of the Greatest Hedge Fund of All Time

Interview with Greg Zuckerman of the Wall Street Journal on Zuckerman's book where he conducted over 400 interview with current and former employees of Renaissance Technologies.

Number #5. The Math Equation That Beat Wall Street | Jim Simons vs. EMH (Efficient Market Hypothesis)

In this video, the efficient market hypothesis (EMH) developed by economist Eugene Fama in the 1960s, suggests that all available information is already baked into the stock asset's price. Therefore, you cannot beat the market over the long haul. This is why active manager's tend to underperform the market. A young MIT student named Jim Simons took on this challenge.

Bonus: Jim Simon's 8 market state's:

1. Upward Trend (Price Increasing), Volume Increasing, Low Volatility (Bull Market)

2. Upward Trend (Price Increasing), Volume Decreasing, High Volatility

3. Downward Trend (Price Decreasing), Volume Increasing, Low Volatility (Bear Market)

4. Downward Trend (Price Decreasing), Volume Decreasing, High Volatility

5. Consolidation Phase (Low Volatility)

6. Ranging Market (Sideways Trend with Low Volatility)

7. Upward Breakout (from Consolidation or Ranging)

8. Downward Breakdown (from Consolidation or Ranging)

Conclusions: Life of a legend

Jim Simons is an inspiration to anyone who aspires to use math to make better trading decision rather than just limiting ones self to efficient market hypothesis buy-and-hold, build quantitative trading strategies using algorithms, and actively grow investments with data and code.

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