Uh oh. Can't be that Jim Simons has bad news can it? We hate that sort of thing. (Sort of).
Update: The call is definitely a go. Emergency? Not so clear. Might actually have been pre-scheduled. Topic? Pure speculation. Double digit under-performance v. the S&P 500? Maybe. Ouch.
Totally Unfounded Rumor Of The Day: Renaissance Emergency Investor Call At 1pm Today
Posted by Equity Private, May 13, 2009, 10:26am
Uh oh. Can't be that Jim Simons has bad news can it? We hate that sort of thing. (Sort of).
Update: The call is definitely a go. Emergency? Not so clear. Might actually have been pre-scheduled. Topic? Pure speculation. Double digit under-performance v. the S&P 500? Maybe. Ouch.
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Posted by guest , May 13, 2009 10:39AM
Oooh, this is delicious! Please let it be a Ponzi scheme!
Posted by Lowly Assistant , May 13, 2009 10:45AM
Nothing to see here. Just wants to vent his extreme displeasure with a pack of Salems going up to $11.75 "at that oriental joint downstairs."
Posted by guest , May 13, 2009 10:47AM
Just maybe trading highly profitable latency arbitrage strategies with huge amounts of one's own money is not a good idea when managing other people's money *in the same stocks* with strategies that are losing tons of money.
Just saying.
Posted by guest , May 13, 2009 10:48AM
Anyone have the bridge number?
Posted by guest , May 13, 2009 10:50AM
Split-strike conversion, anyone?
Posted by Anal_yst , May 13, 2009 10:51AM
I was told the same, announcement will be "Oh, so we may have uncovered some irregularities with how we booked losing trades in the institutional funds and winnings ones in Medallion..."
Posted by guest , May 13, 2009 10:53AM
RenTec's 2-part business model:
Make tons of money on proprietary trading for themselves exploiting whatever, whenever, however.
Make tons of money from fees "trying" to make tons of trading profits for client funds, yet end up losing billions and billions for those clients.
Posted by guest , May 13, 2009 10:54AM
dial in pls
Posted by guest , May 13, 2009 10:59AM
do you guys have money invested with him?
if not, who gives a shit?
Posted by guest , May 13, 2009 11:00AM
RenTech is a complete mystery to me.
If I could have back all the hours in my life that I've spent thinking about how the Medallion fund makes so much money...
Posted by guest , May 13, 2009 11:03AM
Ponzi boy pt. deux? Say it ain't so!
http://www.youtube.com/watch?v=mpHLEm9-0bg
Posted by Riskybusiness , May 13, 2009 11:03AM
Is Renaissance heading into a new Dark Age?
Posted by guest , May 13, 2009 11:12AM
We JUST spent a large portion of an MBA class discussing whether Rennaissance was a good investment or a Ponzi scheme or neither. Good timing.
Posted by guest , May 13, 2009 11:17AM
What a coincidence. We just spent a large portion of a traders' meeting discussing whether business school was a good investment or a Ponzi scheme or neither.
Posted by guest , May 13, 2009 11:18AM
So the incessant smoking is because he's always nervous... of being found out!
Posted by guest , May 13, 2009 11:19AM
@15: He's lost 2 sons to accidents. I just think it's stress and probably a "who gives a sh** anyway".
Posted by guest , May 13, 2009 11:20AM
@7, Replace "RenTec" with "GS" and you've hit the nail on the head.
Posted by guest , May 13, 2009 11:20AM
i wonder if he and Ruthie smoke the same brand
Posted by guest , May 13, 2009 11:25AM
13 There seems to be no reason at all to even consider RenTech a ponzi. Wasted effort, I think.
Posted by guest , May 13, 2009 11:28AM
Sounds like CDP to me:
http://www.econbrowser.com/archives/2005/11/hedge_fund_risk.html
Posted by guest , May 13, 2009 11:30AM
clairifications on Simons:
+ he quit smoking two months ago.
+ medallion is all his and his employee's money, so its pointless for it to be a ponzi.
the call is just to update everyone on his successes keeping off the cigs.
Posted by guest , May 13, 2009 11:37AM
prolly going to announce another pile of dung with his name on it for outside investors.
Posted by guest , May 13, 2009 11:39AM
@17.
Exactly what I was thinking.
Posted by PatrickBateman , May 13, 2009 11:49AM
Reading about RenTec, GS etc only reinforces my unfortunate stereotype that the Jewish guys pulling the levers at the top control more than you know. It's a conspiracy I tell you!!
-Totally Ignorant Ass
Posted by guest , May 13, 2009 11:51AM
@19 The wasted effort was the RenTec ponzi discussion, or business school in general?
-Wildcard bitches!
Posted by guest , May 13, 2009 12:01PM
25- A masters in finance is probably a better use of two years than business school. You can use your elective courses to take some management and marketing courses.
Posted by Seaman Bodine II , May 13, 2009 12:16PM
@26
suck on a tailpipe
Posted by guest , May 13, 2009 12:23PM
27- If you want I can shake out some loose change from my pocket and pay you back whatever it cost to get your MBA.
Posted by guest , May 13, 2009 12:42PM
@28 whatever change u find is worth more than the MBA
Posted by Seaman Bodine II , May 13, 2009 12:51PM
arguing over a degree should def get you banned from DB for life
Posted by guest , May 13, 2009 1:33PM
30- I'll trade you 19 Chuck E. Cheese tickets for that scratch paper you call a degree. A dude I know with some stuff that fell of a truck could use that degree of yours. And I need a new pair Gap jeans.