Author Topic: Are Renaissance Technologies just trend followers?  (Read 10477 times)

Gregmal

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Re: Are Renaissance Technologies just trend followers?
« Reply #40 on: June 12, 2020, 01:07:33 PM »
https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

So their "employee only" fund does 60% a year...but their "rest of the people" fund, does this...

https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe


frank87

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Re: Are Renaissance Technologies just trend followers?
« Reply #41 on: June 12, 2020, 01:10:17 PM »
https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

So their "employee only" fund does 60% a year...but their "rest of the people" fund, does this...

https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

The Medallion fund doesn't do equities I believe and has been deliberately kept small to keep the high returns going. Their marketed funds have not been as successful due to size and different asset classes that they're involved in.

CorpRaider

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Re: Are Renaissance Technologies just trend followers?
« Reply #42 on: June 12, 2020, 06:18:17 PM »
Based on their -20% and my own freaking whipsaws in an account where I try and implement a TF strategy....they might just be trend followers.

given2invest

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Re: Are Renaissance Technologies just trend followers?
« Reply #43 on: June 12, 2020, 07:49:23 PM »
https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

So their "employee only" fund does 60% a year...but their "rest of the people" fund, does this...

https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

Yah, it's completely different strategies.  Medallion is TRULY the greatest investment vehicle of all time. 

given2invest

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Re: Are Renaissance Technologies just trend followers?
« Reply #44 on: June 12, 2020, 07:52:13 PM »
https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

So their "employee only" fund does 60% a year...but their "rest of the people" fund, does this...

https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

The Medallion fund doesn't do equities I believe and has been deliberately kept small to keep the high returns going. Their marketed funds have not been as successful due to size and different asset classes that they're involved in.

Not true, Medallion does whatever Medallion wants to do.  I'm sure most of it is equities.  And "small" is $5b+ year in the fund returning 40-50% year after year, if not greater.   Yes, they return all the excess capital annually, but that's still a lot of capital for those kind of returns.  Amazing.

frank87

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Re: Are Renaissance Technologies just trend followers?
« Reply #45 on: June 12, 2020, 08:01:29 PM »
https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

So their "employee only" fund does 60% a year...but their "rest of the people" fund, does this...

https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

The Medallion fund doesn't do equities I believe and has been deliberately kept small to keep the high returns going. Their marketed funds have not been as successful due to size and different asset classes that they're involved in.

Not true, Medallion does whatever Medallion wants to do.  I'm sure most of it is equities.  And "small" is $5b+ year in the fund returning 40-50% year after year, if not greater.   Yes, they return all the excess capital annually, but that's still a lot of capital for those kind of returns.  Amazing.

I recall from reading the new book written on Jim Simon that Medallion's bread and butter was not equities; in fact, they had historically struggled to build profitable models on equities. A reason why Medallion pays out so much is that they've found it comparably difficult to reliably generate returns by trading new asset classes.

Spekulatius

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Re: Are Renaissance Technologies just trend followers?
« Reply #46 on: June 14, 2020, 05:01:44 AM »
https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

So their "employee only" fund does 60% a year...but their "rest of the people" fund, does this...

https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

The Medallion fund doesn't do equities I believe and has been deliberately kept small to keep the high returns going. Their marketed funds have not been as successful due to size and different asset classes that they're involved in.

Not true, Medallion does whatever Medallion wants to do.  I'm sure most of it is equities.  And "small" is $5b+ year in the fund returning 40-50% year after year, if not greater.   Yes, they return all the excess capital annually, but that's still a lot of capital for those kind of returns.  Amazing.

I recall from reading the new book written on Jim Simon that Medallion's bread and butter was not equities; in fact, they had historically struggled to build profitable models on equities. A reason why Medallion pays out so much is that they've found it comparably difficult to reliably generate returns by trading new asset classes.

According the book, they struggled in equities for a long time and then achieved a breakthrough, which allowed them to scale up to their current size of $10B.

I m sure in the current mayhem in the stock markets, they make out like bandits this year.
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D33pV4lue

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Re: Are Renaissance Technologies just trend followers?
« Reply #47 on: June 16, 2020, 08:28:20 AM »
I tried looking for an article on Medallion fund but haven't found it. I think it came out last year in case anyone knows what I am talking about they can post it. From my memory, the article explained how the Medallion fund operates (vaguely as much of it is proprietary) much like a casino, placing millions of small trades every day on both sides. That way market moves are somewhat irrelevant and they take a daily vig. Investments never last longer than 2 weeks.

CorpRaider

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Re: Are Renaissance Technologies just trend followers?
« Reply #48 on: June 16, 2020, 12:40:21 PM »
Based on their -20% and my own freaking whipsaws in an account where I try and implement a TF strategy....they might just be trend followers.

Feeling better about this now.   ;D