Jim Simons Quotes
108 Jim Simons Quotes
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[In September 2012.] The thrill of finding a new predictor. And we’ve found lots of new predictors over the years. You find a new predictor and it’s really terrific. You run the simulation and you say ‘Oh my goodness this is a real statistical advantage to this particular predictor and it’s independent to the other ones.’ We’ve built up the system that way. I’ve found that very, very gratifying. The risk control things…
Jim Simons
[In September 2012 on his modelling and finding the right way to cost things.] We were certainly a pioneer in this…
Jim Simons
[In September 2012.] I found this whole process of speculation quite interesting, in particular I had gotten interested in currencies.
Jim Simons
[In September 2012 looking back on starting the RenTec business in 1976 when he had a little money from his investment in the South American business, him being between wives and being frustrated in his work when there seemed to be bigger game out there.] I had this new opportunity. It seemed perfectly natural to just do it.
Jim Simons
[In September 2012.] Having fun exploring this completely new regime called speculation. The currencies which I found interesting had just gone off of fixed exchange rates which they had until the middle seventies. So you couldn’t speculate in currencies because they wouldn’t go anywhere.
Jim Simons
[In September 2012.] It was fun and successful. I’ve never really looked back… It was just a new leaf in the book.
Jim Simons
[In September 2012 on the GFC and how the ratings agencies are not being policed.] The real problem was the rating agencies put the wrong ratings on the bonds. Put AAA ratings on the bonds then the people would buy the bonds. People buy the bonds then people would trade the bonds… The whole chain worked it’s way up because there was no policing… The key problem that created this problem is not being addressed.
Jim Simons
[In September 2012.] I’ve always believed if there’s going to be a hit – take it and then go on about your business.
Jim Simons
[In July 2014 on his foundation at the age of 76.] We're moving in the direction of collaborative, goal-driven science.
Jim Simons
[In July 2014 on his philanthropic aim. To] Get some science done that wouldn't have been done.
Jim Simons
[In July 2014 on how the introduction of mathematical models into biology is going to revolutionize it.] It's almost impossible to do biology now without being able to analyze large sets of data. Just as it did revolutionize physics in the days of Isaac Newton.
Jim Simons
[In July 2014 at the age of 76 on remembering he was terrible at computer programming.] I’d keep forgetting the notation. I couldn’t write programs to save my life.
Jim Simons
[In July 2014 on looking back at Stony Brook University on Long Island courting him to become its math Chairman.] It was a lousy department. When I was interviewed by the provost, he said, ‘Well, Dr. Simons, I have to say you’re the first person we’ve interviewed for this job who actually wants it.’ I said: ‘I want it. I want it. It sounds like fun.’ And it was fun. And I went there, and we built up a very good department.
Jim Simons
[In July 2014 at the age of 76.] I’m supposed to be retired. But I’m juggling a lot of things.
Jim Simons
[In July 2014.] I thought it was the coolest thing - what a life, to go out at 2 a.m. with friends and do math over coffee. It seemed like the world’s greatest career
Jim Simons
[In July 2014 looking back on learning how to make mathematical models to interpret data at the Institute for Defense Analyses coming up with algorithms to attack particular types of cryptographic problems after joining in 1964.] I think if I hadn’t been there, the business we built later would never have occurred.
Jim Simons
[In August 2014.] I always liked maths. When I was a little boy, I would think about numbers and shapes and even logic. And I was a kid who just liked thinking.
Jim Simons
[On initially giving up speculating in soy beans whilst writing his thesis.] I came to the following conclusion, I was either going to write a thesis in mathematics, or trade soy beans because it was impossible to do both at the same time so I gave that up. But always in the back of my mind I liked this trading business and found it interesting.
Jim Simons
[On how much he could talk about Renaissance Technologies.] Oh that’s much more secretive than national security.
Jim Simons
I was plain lucky.
Jim Simons
I could see after a while that the models were a better way to do things in fundamental trading. For me it was just too gut-wrenching. One day you’d come in and you’d think you’re a genius and the market’s away - and the next day down and you’d think you’re an idiot. Even if you’re a genius one day more than you’re an idiot, it’s still a very stressful way to make a living. The model building made sense…
Jim Simons
It’s a big data-set… I’ve got to figure out at least probabilistically, what’s coming next… It’s kind of like code-cracking. It’s a little bit more vague, at least with code-cracking you know there’s a machine that’s doing this and has some structure to it. Here it’s the human race that’s making these things happen.
Jim Simons
We can’t create our own data… You just have to play the data as it plays.
Jim Simons
We went all technical in ’88.
Jim Simons
[On the Medallion Fund being capped to limit the amount of money coming in. Now it is solely owned by company employees with no outside investors.] Like so many things the market will only take so much. We had to cap that.
Jim Simons
We decided that systematic trading was best. Fundamental trading gave me ulcers.
Jim Simons
[In January 2008.] I liked the idea of being my own boss.
Jim Simons
[In July 2014.] I like to ponder.
Jim Simons
Bonus:
[On computational linguists.] Investing and speech recognition are very similar. In both, you’re trying to guess the next thing that happens.
One Renaissance researcher
[In November 2000.] Simons is No. 1. Ahead of George Soros. Ahead of Mark Kingdon. Ahead of Bruce Kovner. Ahead of Monroe Trout.
Antoine Bernheim
I had heard of Jim Simons the mathematician, but I had never heard of Renaissance until they called me up. I said, ‘Jim Simons runs a hedge fund?’
Andrew Lo (Massachusetts Institute of Technology (MIT))
[In November 2006 on Jim Simons and Renaissance.] I’m willing to believe that Jim and his team are extraordinarily astute investors, but I don’t really understand what they do.
Michael Rosen (Angeles Investment Advisors)
[In November 2003 on having concerns about Bernard Madoff.] It's high season on money managers, and Madoff's head would look pretty good above Elliot Spitzer's mantle.
Nathaniel Simons (Son of Jim Simons)
[In a testimony on an internal e-mail in November 2003 expressing concerns about Bernard Madoff .] We did feel that despite the fact that we're kind of smart people, we were just looking at matters of public record.
Nathaniel Simons (Son of Jim Simons)
I've always said Renaissance's secret is that it didn't hire MBAs.
Elwyn Berlekamp
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