flâneur

Founders: #108 Jim Simons (Money Printer)

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What I learned from reading The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution by Gregory Zuckerman ---- The story of the greatest moneymaker of all time [0:01] Simons prefers to move in silence [1:40] Unknown Unknowns > Known Knowns / Wise people always know exactly why something won’t work. That is why I never employ an expert in full bloom. —Henry Ford [2:42] A one word summary of the book: PERSISTENCE [4:15] Simons’ early life / Only the arrogant are self-confident enough to push their creative ideas on others. —Nolan Bushnell [4:44] Advice from his father: Do what you like in life, not what you feel you should do. [6:16] Personality: Jim had a persistent and burning desire to be wealthy [7:20] A seed has been planted + Jim’s existential crisis [9:55] Lessons from codebreaking that Jim applies to his business later [14:08] Jim Simons at 29 years of age: Fired, father of 3 young children, no idea what his future holds [20:00] Jim Simons at 33 years of age: Genius and madness are next-door neighbors [21:44] Jim Simons at 40 years of age: Jim finally makes the jump. Only misfits understand misfits [22:55] Jim’s first trading style [28:00] We all go through

[00:00:00] Simmons chose a different approach. A world-class mathematician and former code breaker, Simmons had a hunch that financial markets moved in orderly ways, just not in ways that could be detected with human intuition and insight. Simmons believed that collecting and analyzing data could provide an advantage and that automated trading was possible. Working from a ramshackle office in a Long Island strip mall, Simmons hired mathematicians, physicists, and computer scientists to amass reams of historic records and develop [00:00:33] algorithms to process it all. His team hunted for…

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