Guest Posted February 7, 2021 Share Posted February 7, 2021 Anyone have any idea if their funds outside of Medallion have outperformed? Link to comment Share on other sites More sharing options...
ValueArb Posted February 9, 2021 Share Posted February 9, 2021 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. I thought it was generally assumed that a lot of Medallions profits was from market-making and arbitrage? Like Buffets early years when he could use merger-arbitrage to juice returns. Link to comment Share on other sites More sharing options...
Munger_Disciple Posted February 9, 2021 Share Posted February 9, 2021 Anyone have any idea if their funds outside of Medallion have outperformed? https://www.bloomberg.com/news/articles/2021-02-08/renaissance-clients-pull-out-after-firm-s-rotten-run-of-results According to the article, outside funds performed poorly. Link to comment Share on other sites More sharing options...
Munger_Disciple Posted February 9, 2021 Share Posted February 9, 2021 Another article on Rentech: https://markets.businessinsider.com/news/stocks/jim-simons-renaissance-technologies-rentech-5-billion-client-redemptions-2021-2-1030055185 <i>RenTech's investors are pulling their money after the firm's international equities fund lost 19% in 2020, its institutional diversified alpha fund tumbled 32% over the same period, and its institutional diversified global equities fund slumped 31%. ....... In contrast, the firm's flagship Medallion fund - which is only open to owners, employees, and their families - gained 76% last year, Institutional Investor reported last month.</i> Link to comment Share on other sites More sharing options...
Jurgis Posted February 9, 2021 Share Posted February 9, 2021 Another article on Rentech: https://markets.businessinsider.com/news/stocks/jim-simons-renaissance-technologies-rentech-5-billion-client-redemptions-2021-2-1030055185 <i>RenTech's investors are pulling their money after the firm's international equities fund lost 19% in 2020, its institutional diversified alpha fund tumbled 32% over the same period, and its institutional diversified global equities fund slumped 31%. ....... In contrast, the firm's flagship Medallion fund - which is only open to owners, employees, and their families - gained 76% last year, Institutional Investor reported last month.</i> This is like LOLZ wtfpwn stupid outside money dudes... ::) Link to comment Share on other sites More sharing options...
Patmo Posted February 9, 2021 Share Posted February 9, 2021 Seems a little extra fishy that the thesis of scrambling together a bunch of technical standouts can produce gravity defying results falls apart so badly as soon as it opens up to a little scrutiny. Rentech, the kind of fund that can't take a leak if you're looking... Link to comment Share on other sites More sharing options...
Spekulatius Posted February 10, 2021 Share Posted February 10, 2021 Another article on Rentech: https://markets.businessinsider.com/news/stocks/jim-simons-renaissance-technologies-rentech-5-billion-client-redemptions-2021-2-1030055185 <i>RenTech's investors are pulling their money after the firm's international equities fund lost 19% in 2020, its institutional diversified alpha fund tumbled 32% over the same period, and its institutional diversified global equities fund slumped 31%. ....... In contrast, the firm's flagship Medallion fund - which is only open to owners, employees, and their families - gained 76% last year, Institutional Investor reported last month.</i> This is like LOLZ wtfpwn stupid outside money dudes... ::) Maybe these outside money funds are just sacrificial lambs to feed the employee owned beast? Link to comment Share on other sites More sharing options...
fareastwarriors Posted February 10, 2021 Share Posted February 10, 2021 Jim Simons Makes Billions While Renaissance Investors Fume at Losses https://www.bloomberg.com/news/articles/2021-02-10/simons-makes-billions-while-renaissance-investors-fume-at-losses?srnd=premium Link to comment Share on other sites More sharing options...
compoundinglife Posted February 10, 2021 Share Posted February 10, 2021 One of the guests on Grant William's podcast about GME and short selling claimed that RenTech returns are all about employed leverage and they are not doing anything unique. I don't believe he cited any data to back this up but it was the first time I had heard that claim. Link to comment Share on other sites More sharing options...
compoundinglife Posted February 10, 2021 Share Posted February 10, 2021 One of the guests on Grant William's podcast about GME and short selling claimed that RenTech returns are all about employed leverage and they are not doing anything unique. I don't believe he cited any data to back this up but it was the first time I had heard that claim. Actually I guess the start of this thread was basically that claim, whoops. Link to comment Share on other sites More sharing options...
wescobrk Posted February 10, 2021 Share Posted February 10, 2021 Besides scale, what is the reason the fund for employees was up 76% last year and they had two funds that were down in the 30's? Link to comment Share on other sites More sharing options...
Spekulatius Posted February 11, 2021 Share Posted February 11, 2021 Besides scale, what is the reason the fund for employees was up 76% last year and they had two funds that were down in the 30's? Jim Simons: I am sure the math checks out. Link to comment Share on other sites More sharing options...
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