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TonyC
Nuclear Energy Trader

Total Posts: 1295
Joined: May 2004
 
Posted: 2016-03-16 22:54
> We had pre-interview meetings during which we were given precise
> instructions what to ask, research and find out about a candidate with
> the understanding that there was no intention to hire

So you worked at Goldman during the two Steve's era

flaneur/boulevardier/remittance man/energy trader

mtsm


Total Posts: 236
Joined: Dec 2010
 
Posted: 2016-03-17 01:34
Nope, some shop on the other side...

mtsm


Total Posts: 236
Joined: Dec 2010
 
Posted: 2016-11-21 18:59
http://www.bloomberg.com/news/articles/2016-11-21/how-renaissance-s-medallion-fund-became-finance-s-blackest-box?cmpid=yhoo.hosted

EspressoLover


Total Posts: 368
Joined: Jan 2015
 
Posted: 2016-11-22 00:58
"Eventually the scientists went so far as to develop an in-house programming language for their models rather than settle for a numbercentric option such as ASCII, which was popular at the time. "

...Hammertime

Good questions outrank easy answers. -Paul Samuelson

chiral3
Founding Member

Total Posts: 5077
Joined: Mar 2004
 
Posted: 2016-11-22 02:01
EL, your post prevented me from reading the article.

Nonius is Satoshi Nakamoto. 物の哀れ

NeroTulip


Total Posts: 1024
Joined: May 2004
 
Posted: 2016-11-22 07:45
It is not unusual to find sentences that make no sense in articles, but I usually have a good idea about what the meaning was. No such luck here, I don't even know what could have been said to make a journalist write that sequence of words. Any ideas?

"Earth: some bacteria and basic life forms, no sign of intelligent life" (Message from a type III civilization probe sent to the solar system circa 2016)

Dizzy


Total Posts: 250
Joined: May 2006
 
Posted: 2016-11-22 08:16
I guess someone could transcribe "C" as "ASCII", in particular if someone repeated the "as" in the audio recording.

"rather than settle for a numbercentric option such as, as C, which was popular at the time. "

"Although the code snippet makes taking over the earth look fairly easy, you don't see all the hard work going on behind the scenes." - Programming F#, Chris Smith

goldorak


Total Posts: 1059
Joined: Nov 2004
 
Posted: 2016-11-22 09:00
Haskell.

I know, not popular back then and not even now.

If you are not living on the edge you are taking up too much space.

rftx713


Total Posts: 102
Joined: May 2016
 
Posted: 2016-11-24 00:44
.

EspressoLover


Total Posts: 368
Joined: Jan 2015
 
Posted: 2016-12-08 21:23
From their latest ADV, they've appeared to have shut down RIFF. There's also a new fund RIDGE, that appears to basically just be RIDA without the futures.

https://www.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=380746

Good questions outrank easy answers. -Paul Samuelson

NeroTulip


Total Posts: 1024
Joined: May 2004
 
Posted: 2016-12-09 02:49
Looks more like a global version of RIEF. RIEF is US equities only, they seem to apply the same models to other markets in RIDGE.

"Earth: some bacteria and basic life forms, no sign of intelligent life" (Message from a type III civilization probe sent to the solar system circa 2016)

rod


Total Posts: 382
Joined: Nov 2006
 
Posted: 2017-02-28 11:41
‘You have to stop,’ Renaissance executive tells boss about Trump support (Feb. 23, 2017)

"David Magerman says he was in his home office in suburban Philadelphia earlier this month when the phone rang. His boss, hedge-fund billionaire Robert Mercer, was on the line. “I hear you’re going around saying I’m a white supremacist,” Mr. Mercer said. “That’s ridiculous.” In the prior weeks, Mr. Magerman, a registered Democrat who calls himself a centrist, had complained to colleagues about Mr. Mercer’s role as a prominent booster of Donald Trump’s presidential campaign.

[...]

Mr. Magerman has one idea that would reduce the power of people like Mr. Mercer. He said he was thinking about reaching out to Democratic Sen. Elizabeth Warren (D., Mass.) to craft proposals to reduce speculative trading, which presumably would curtail Renaissance’s profits.

[...]

On Thursday morning, after an online version of this story appeared, Mr. Magerman received a new phone call from Renaissance. A representative told Mr. Magerman that he was being suspended without pay and no longer could have contact with the company."

eeng


Total Posts: 24
Joined: Dec 2014
 
Posted: 2017-06-17 13:40
A couple of thoughts on this, probably have been debated already but I didn't check all the thread pages:

- They get the bulk of the returns from signals that they've been using for many years, hence the Apple-like secrecy. They require a large amount of highly trained staff to come up with new signals to replace the ones that dry out, but I'd estimate signal turnover is extremely low.

- We know that most of the signals do not have an economic/financial meaning, like the widely cited sunny morning effect. However, what is the kind of signals they would look at in the early 80s, and how were they diseminated? The www was 10 years ahead, so they would use a fax/telex or something similar?

quantmatters.wordpress.com

Azx


Total Posts: 39
Joined: Sep 2009
 
Posted: 2017-08-16 20:47
https://www.bloomberg.com/news/articles/2017-08-16/renaissance-s-medallion-made-stunning-shift-after-trump-election

What sort of "market opportunities" might that have been?

Griffin


Total Posts: 1
Joined: Jun 2016
 
Posted: 2017-08-17 08:13
Robert Mercer is a good friend of Trump. Might have been some political information which they are privy to...

bruha


Total Posts: 1
Joined: Sep 2009
 
Posted: 2017-08-21 08:19
https://klendathucap.files.wordpress.com/2017/08/baum-as-a-trader.pdf

GeekySerge


Total Posts: 45
Joined: Apr 2010
 
Posted: 2017-08-21 10:27
Leonard Baum has passed away on August 14, 2017:
http://obits.nj.com/obituaries/trenton/obituary.aspx?pid=186415345
https://klendathucapitalist.com/2017/08/18/opa/

RIP

bullero


Total Posts: 38
Joined: Feb 2018
 
Posted: 2018-09-18 11:22
.

Jurassic


Total Posts: 218
Joined: Mar 2018
 
Posted: 2019-01-10 17:04
Renaissance did well again this year

nikol


Total Posts: 704
Joined: Jun 2005
 
Posted: 2019-02-02 16:17
Because it employs best quant strategies

Bloomberg

jslade


Total Posts: 1174
Joined: Feb 2007
 
Posted: 2019-02-02 23:39
Found this on Hacker news

(from 30:06 to 39:00 or so if you want to hear about Nick Patterson screwing around with HMMs)

http://www.thetalkingmachines.com/episodes/ai-safety-and-legacy-bletchley-park

""I joined a hedge fund, Renaissance Technologies, I'll make a comment about that. It's funny that I think the most important thing to do on data analysis is to do the simple things right. So, here's a kind of non-secret about what we did at renaissance: in my opinion, our most important statistical tool was simple regression with one target and one independent variable. It's the simplest statistical model you can imagine. Any reasonably smart high school student could do it. Now we have some of the smartest people around, working in our hedge fund, we have string theorists we recruited from Harvard, and they're doing simple regression. Is this stupid and pointless? Should we be hiring stupider people and paying them less? And the answer is no. And the reason is nobody tells you what the variables you should be regressing [are]. What's the target. Should you do a nonlinear transform before you regress? What's the source? Should you clean your data? Do you notice when your results are obviously rubbish? And so on. And the smarter you are the less likely you are to make a stupid mistake. And that's why I think you often need smart people who appear to be doing something technically very easy, but actually usually not so easy.

at my hedge fund, which was not a very big company, we had 7 Phd's just cleaning data and organizing the databases""

"Learning, n. The kind of ignorance distinguishing the studious."

nikol


Total Posts: 704
Joined: Jun 2005
 
Posted: 2019-02-03 22:52
@jslade

1st level data crunch:
Simple - 4 times, Stupid - 3 times. Easy / rubbish - 3 times
Smart - 4 times

Language shows excessive frustration


rickyvic


Total Posts: 186
Joined: Jul 2013
 
Posted: 2019-02-14 12:26
I formed an opinion on companies like this one.
If you are not greedy and you invest in people that can do their jobs well, in an environment that attempts to take the best out of researchers/traders without the commercial pressure of coming out with so so strategies or models, then you are in the right path.
It takes time to research quality strategies, when you do and you can scale it will pay off.

So infinite resources for data, technology, quality people, nearly no marketing issues, full focus and commitment.
Then ease of implementation of those ideas in production.

I am not sure this is what happens there but it is what can make a firm super successful like that one.
The biggest bottleneck is the research you have to do every day and it has to lead to results.
In big firms you need to do so many things and then you spend 1 hour a week on what makes money, plus thinking of keeping everyone happy.


"amicus Plato sed magis amica Veritas"

nikol


Total Posts: 704
Joined: Jun 2005
 
Posted: 2019-02-14 13:25
It is possible to reduce complex research to simple formulas. That's the aim of the final design to pass it to the less qualified people.

But to ask Einstein to solder contacts for the atomic bomb is too much.

deeds


Total Posts: 427
Joined: Dec 2008
 
Posted: 2019-02-14 14:00

Is it just a myth that Einstein worked as a patent clerk and some of the seeds of his ideas came from patent applications around synchronizing rail timetables?

I think the sleeves rolled up environment of Los Alamos and other places like it that were created to produce a working atomic bomb from theory provided fertile grounds for new ideas.

Before and after enlightenment, cutting wood, carrying water.
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