Review of The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution by Gregory Zuckerman.

November 9, 2019 | Alts Education, Insights, News
https://dailyalts.com/wp-content/uploads/2019/11/800px-James_Simons_2007-e1573228473716.jpg

A must-read book for anyone in the financial markets

Renaissance Technologies and its founder James Simons have received a worthy biography. The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution is the latest book by Gregory Zuckerman.

If you are involved in finance or just want to know more about making money in the markets, you need to read this book.

Renaissance Technologies and James Simons

James Simons is a mathematician who once did code-breaking for the US government. He would eventually turn his attention to the financial markets. Simons and his team of scientists built Renaissance Technologies into the best-performing asset management firm of all time. From 1988 through today, the firm compounded at least 65% before fees.

Now, the book does not reveal any of Mr. Simons exact techniques or provide you with line of code from his team’s black box. However, the book does help readers understand the thought process that helped them achieve spectacular gains.

The team understood how to model human behavior. The anomalies and patterns they found in the data were the results of other investors mistakes. Their computing power allowed Renaissance Technologies to identify and exploit these mistakes for huge gains.

More on the Book

The book reads like a high-tech finance novel instead of a dry recitation history. We are introduced to some of the great mathematical minds of the last 50 years. We also learn how through trial and error, James Simons’ team combined to rewrite the idea of trading and finance.

Managing the collection of personalities was every bit as important as managing the data his team collected and Mr. Simons is revealed to be not just a brilliant mathematician but a brilliant manager of people as well.

Today quantitative strategies are becoming widely accepted but that, not always s the case. People were very skeptical of using a black box to trade financial instruments. The Man Who Solved the Market is an exceptional look at the history of quantitative trading and investing.

It should be at the top of your must-read list this winter.

Reviewed by Tim Melvin

Review: ABI Research: the U.S. Represents 52.3% of All Artificial Intelligence Investment

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2020/09/JASON-COZENS-Glint.png
FinTech: Glint It! A P2P Gold Transfer Service Inside An App
September 22, 2020     FinTech, News

Glint customers can use their mobile phones and the Glint app with its new Glint It! Feature to instantly send or receive gold or other currencies to their fellow Glint…

https://dailyalts.com/wp-content/uploads/2020/09/bitcoin-2666200_640.jpg
Alternative Investments/Digital: “Front-Running Opportunity Of A Lifetime”
September 22, 2020     Alternative Investments, Digital Assets, News

Former Goldman Sachs (NYSE: GS) employee and hedge fund manager Raoul Pal cites recent developments as a regulatory thaw that may augur the approval of a bitcoin ETF.

https://dailyalts.com/wp-content/uploads/2020/09/1_luMSPGFDXVskXkqfW0TGUw-Paytm.jpeg
FinTech: Indian FinTech Paytm Takes On Google, Alleges “Arm-Twisting”
September 21, 2020     FinTech, News

Paytm, a major Indian payment app and fintech, said Friday that its app had been pulled from the Google (NASDAQ: GOOGL) Play Store because its recently launched “Paytm Cricket League”…

https://dailyalts.com/wp-content/uploads/2020/09/bitcoin-3024280_640.jpg
Digital Assets: MicroStrategy’s Labor of Love On Bitcoin
September 21, 2020     Digital Assets, News

Michael Saylor, MicroStrategy’s (NASDAQ: MSTR) CEO, made waves with his bold decision to invest $425 million of the company’s cash reserves in bitcoin. He invested the money in two tranches…