Jim
Simons is the greatest moneymaker in modern financial history. His
record bests those of legendary investors, including Warren Buffett,
George Soros and Ray Dalio. Yet Simons and his strategies are shrouded
in mystery. The financial industry has long craved a look inside
Simons''s secretive hedge fund, Renaissance Technologies and veteran Wall Street Journal reporter Gregory Zuckerman delivers the goods.
After
a legendary career as a mathematician and a stint breaking Soviet
codes, Simons set out to conquer financial markets with a radical
approach. Simons hired physicists, mathematicians and computer
scientists - most of whom knew little about finance - to amass piles of
data and build algorithms hunting for the deeply hidden patterns in
global markets. Experts scoffed, but Simons and his colleagues became
some of the richest in the world, their strategy of creating
mathematical models and crunching data embraced by almost every industry
today.
As Renaissance became a major player in the financial
world, its executives began exerting influence on other areas. Simons
became a major force in scientific research, education and Democratic
politics, funding Hilary Clinton''s presidential campaign. While senior
executive Robert Mercer is more responsible than anyone else for the
Trump presidency - he placed Steve Bannon in the campaign, funded
Trump''s victorious 2016 effort and backed alt-right publication Breitbart.
Mercer also impacted the success of the Brexit campaign as he made
significant investments in Cambridge Anatlytica. For all his prescience,
Simons failed to anticipate how Mercer''s activity would impact his
firm and the world.
In this fast-paced narrative, Zuckerman
examines how Simons launched a quantitative revolution on Wall Street,
and reveals the impact that Simons, the quiet billionaire king of the
quants, has had on worlds well beyond finance.