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
By Equity Private
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Oooh, this is delicious! Please let it be a Ponzi scheme!
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.”
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.
Anyone have the bridge number?
Split-strike conversion, anyone?
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…”
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.
dial in pls
do you guys have money invested with him?
if not, who gives a shit?
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…
Ponzi boy pt. deux? Say it ain’t so!
http://www.youtube.com/watch?v=mpHLEm9-0bg
Is Renaissance heading into a new Dark Age?
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.
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.
So the incessant smoking is because he’s always nervous… of being found out!
@15: He’s lost 2 sons to accidents. I just think it’s stress and probably a “who gives a sh** anyway”.
@7, Replace “RenTec” with “GS” and you’ve hit the nail on the head.
i wonder if he and Ruthie smoke the same brand
13 There seems to be no reason at all to even consider RenTech a ponzi. Wasted effort, I think.
Sounds like CDP to me:
http://www.econbrowser.com/archives/2005/11/hedge_fund_risk.html
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.
prolly going to announce another pile of dung with his name on it for outside investors.
@17.
Exactly what I was thinking.
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
@19 The wasted effort was the RenTec ponzi discussion, or business school in general?
-Wildcard bitches!
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.
@26
suck on a tailpipe
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.
@28 whatever change u find is worth more than the MBA
arguing over a degree should def get you banned from DB for life
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.