Pioneer of quantitative hedge funds Jim Simons passes away at 86

The pioneer of quantitative hedge fund, Jim Simons has died at the age of 86 years in New York. His contribution made a huge impact on the trading scenario.Englewood, New Jersey May 11, 2024  – The founder of the most successful quantitative hedge fund, Jim Simons has passed away at the age of 86. He was a mathematician who died on Friday in New York. The news of his death has been announced by his own foundation on the website. He was the very first person who introduced mathematical models and algorithms in the area of investments. With his innovation, he has made a huge change in the investment scenario. He made a track record at Renaissance Technologies, which rivaled George Soros and Warren Buffett. In the book ‘The Man Who Solved the Market’, Gregory Zuckerman mentioned how he changed everything with his merit and caliber.

According to reports, Medallion Fund had a total of 66% return from the year 1988 to 2018. He was one of the most proficient in the industry. Simon completed his bachelor’s degree in mathematics in the year of 1958 from the Massachusetts Institute of Technology. Later that, he completed his Ph.D in the same subject from the University of California. At the age of 40 years, he quit academics and tried his hands in trading. And since then, his growth has been remarkable in the industry. In an interview, he said ‘I have no opinion on any stocks…. The computer has its opinions and we slavishly follow them’.

Jim Simons has always relied on the automated trading system and that is what assisted him to attain enormous success. It is seen that other investors always focus on sales, profit margins, and earnings. And he never focused on these aspects. This is was helped him to take the benefits of the trading patterns and market inadequacy. He has shown a drastic change in trading by showcasing his caliber. According to the reports, the net worth of his company is nearly $31.4 billion, which is an astonishing amount for everyone.Media ContactDaniel Martin Source :Daniel Martin