Market/lady friend/mahjong troubles got you down? Cheer up—you now have the unique opportunity to own a tiny part of Renaissance Technologies (provided, of course, that you’re an institutional and/or sophisticated investor, which we’ve been told by Ad Sales you all are, which would explain how you’re able to spring for those pricey six-packs of Mike’s H.L. with such ease). The greatest hedge ever run out of Setauket, Long Island is said to be planning a minority stake sale in the coming weeks (though, predictably, the sale has been denied, for now). While AQR and KKR (and DVR and DDR) have reportedly been proceeding cautiously with their planned IPOs in the wake of some fireworks in the credit market, James Simons is confident things will work themselves out, and that there will be a demand for a little piece of James at home, as well as in Asia and the Middle East. (Rep from Goldman: “it’s not just the Ladies that Love Cool James, that’s all I’m saying.”)
The $30 billion fund is apparently going with stake sales similar to those of super secretive SAC, as they would allow them to raise capital but not be forced to reveal any major information about RT’s 7th grade math-based trading schemes. Despite having momentarily jumped on the summer losses bandwagon, Renaissance’s flagship Medallion is said to be up for the year.
Bullish US hedge fund may sell stake [FT]
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What is reverting to the norm mean? Going back to the way the world is supposed to run according to RT?
first of all, this story is not accurate. ren tec denies plans to sell any stake in their company. second, they are DOWN on the year not flat. third, the math they use is some of the most advanced stuff on the planet, not 7th grade stuff. horrible reporting here.
really? b/c ft says they’re up on the year. and, dumbarse, DID YOU THINK THEY WERE BEING SERIOUS ABOUT THE 7TH GRADE MATH?
“None the less, people close to Renaissance note that its flagship Medallion fund is still up for the year.” http://www.ft.com/cms/s/0/269211a2-54d4-11dc-890c-0000779fd2ac.html
please do not read this site if you actually think “The $30 billion fund is apparently going with stake sales similar to those of super secretive SAC, as they would allow them to raise capital but not be forced to reveal any major information about RT’s 7th grade math-based trading schemes” was said w/o sarcasm. also, please get a life.
dumbarse, im pretty sure its seventh grade stuff
I heard that you need to take calculus to work at RT? Can anyone confirm
precalc required, calc suggested
I heard that you need to take calculus to work at RT? Can anyone confirm
Calculus is 7th grade math
Maybe outside of North America it is…
I heard that you need to take calculus to work at RT? Can anyone confirm
yep, the applied math these guys use is doing a bang up job. just a coincidence that a supposed once-in-100,000 year event happened two weeks ago. after all, they have 30-40 yrs worth of data to input into the computer
Right, and since the 29bn institutional fund has recovered all its losses and is flat to slightly up YTD and medallion is up infinity % again like usual, who cares
For the record, our quant models are not based on stochastic calculus but instead on geometry. We find we can safely predict market movements using varying sizes and colors of trapezoids & hexagons. Triangular patterns are clear indications that we should sell.
I heard that you need to take calculus to work at RT? Can anyone confirm
RenTec Quant: do you guys use Logo as your primary programming and modeling language?
Forward 100
Right 120
Forward 100
Right 120
Forward 100
?
fdef, you need a PhD in math / physics to work at RenTec.
ive taken calc I and II, any way I can get HOOKED UP with a sweet internship at rentec?
to tde: who cares? apparently you’re unfamiliar with the concept of risk-adjusted return. i can put all my money on black, but if my return is 100% doesn’t make me a hero.
rookies…
What is Logo? That sounds interesting. Most of our work to date has actually been done in MS Paint.
RenTec: sorry for assuming there was actually a formal process behind your geometric work.
I like the spray can in Paint myself.
I suggest you hacks over there @ Rentec try out our newly adopted software, Fingerpainter v1.5.
@Blackman… – myself and probably many others took calc I and II before graduating highschool, so if you think thats setting you apart you might want to reach deeper. No insult intended, but from what I know (and stand to be corrected on) I’d venture to guess you’d need at least a MS in comp sci/math/physics/engr etc to get RenTec to even look at you.
Who knows maybe they need an IR intern?
@JT
I’d say “Blackman” was kidding. Even if he wasn’t, we all know you were motivated purely by racist hatred when you bashed his dreams. You couldn’t stand the thought of a black man who could read, type, and use the internet, much less one who knows both Calc I and II, could you? You awful human being, you!
he doesn’t hire anyone from the U.S. I haven’t seen a case of anti-ethnocentrism this bad since Nam.
A little nationalism never hurt anyone Ren.
Dear ren tec wannabe:
Quit bashing foreigners and watching TV, and use all of your suddenly available time to get some useful education (not history) to get in the door.
Logo – ha way to kick it back to 1986.
Given their silly fee structure, an important question is; Are they up net?
You really have to take a leap of faith to give these guys money, they tell you nothing about what they do, and they violate the #1 mongoose rule of allocating capital to hedge funds: never, ever give money to firms that are run by and predominantly staffed by academics. They have an inevitable “Oops” moment when all their models and theories don’t work or become too widely used.
Would love to short RenTec
Super!! anymore RT software I need to take note of ? I know i have that geometry set in storage somewhere and fingerpaint v0.2beta on tape drive.
yeah.. “dumbarse” you are taking this post way too seriously..
i love you ren
Since when does a company denying a story mean its not right?