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The Algorithm Behind Jim Simons's Success
Reflections on a Wall Street legend.
It wasn’t a flashy beginning either, working out of a “dreary Long Island strip mall, next to a women’s clothing boutique and two doors from a pizza joint.” Talk about taking career risk. Simons believed there were statistical anomalies to be exploited and wanted “models that will make money while I sleep.” However, it took him a decade before he found a winning combination of strategy, talent, and technology. When Sandor Straus became obsessed with collecting more granular historical pricing information, Simons didn’t tell him to spend his time on an effort with a more immediate and visible payoff.
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