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Math Teacher Continues To Do Okay For Himself

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The new issue of Hedge Fund Alert reports that Renaissance Technologies will launch a managed-futures vehicle in October with a staggering $25 billion of investment capacity, clearly posing a threat, or the threat of a threat, to the field. James Simons, founder of Renaissance said that the trading strategy will be somewhere between the Medallion vehicle (mostly futures with some stocks) and the Renaissance Institutional Equities Fund (only US stocks). Simons noted that “The planned fund will take a longer-term approach to investing than Medallion, which whips money in and out of futures positions.”


Bubble Boy Lippmann Doing Okay For Himself

Compared his friends. Greg Lippmann's LibreMax Capital, founded with three former colleagues from Deutsche Bank, posted a 10.12 percent gain for the year through the end of July, according to a letter to the fund's investors obtained by Reuters. The average hedge fund gained just 2.78 percent over that period, according to the Hennessee Hedge Fund Index. LibreMax got a boost last month, gaining 2.71 percent, as portions of the mortgage-backed market rallied, Lippmann, who is the fund's chief investment officer and portfolio manager, wrote in the letter. [Reuters]