Louis Marsicovetere

A refrain typically heard when discussing Jim Simons’ Renaissance Technologies is that it “must” be a Ponzi scheme. Those shouting ‘Ponz’ simply can’t wrap their minds about the eye-popping returns in the Medallion fund-made up mostly of employee money- and the comparatively less stellar performance of RIEF and RIFF. They’re also made nervous by the huge computers housed on RenTec’s campus-esque grounds; throw in a socially awkward CEO who professes to hate human interaction and a couple of unicycles and Ponzi is the only way they can square things away. These people are, of course, imbeciles and the statement “Jim Simons hates the feeling of nicotine in his lungs” would hold more weight. No, the quants at Renaissance are far too intelligent to run some amateur hour scam any hack broker could pull off. They make honestly, through complex algorithms and loopholes in labor laws. Read more »