trading firms: Berkshire Hathaway's BRK.A, -0.06%BRK.B, -0.09% Warren Buffett, hedge-fund manager George Soros, long-time Fidelity fund manager Peter Lynch and others who made their names by beating the S&P 500 index SPX, -0.40% and other benchmarks pale in comparison, according to Market Watch. Simons solved the market, amassing a 23 billion fortune along the way, with a radical and pioneering investing style. Since 1988, his flagship Medallion hedge fund has scored average annual returns of 66% before charging investors hefty fees and 39% after those fees. He built computer programs to digest torrents of market information and select ideal trades involving mostly stocks but also bonds and currencies. Today, sophisticated trading firms around the world have embraced Simons's mathematical, computer-oriented approach. Simons and colleagues at his firm, Renaissance Technologies LLC, sorted data and built sophisticated predictive algorithms years before Facebook FB, -0.18% CEO Mark Zuckerberg Google GOOG, -0.61%GOOGL, -0.61% founders Larry Page and Sergey Brin and their peers in Silicon Valley began grade school.
(news.financializer.com). As
reported in the news.
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