Renaissance Technologies
Renaissance Technologies is one of the world's largest hedge funds, with approximately $35 billion in investment capital. The firm was started by James Simons in 1982 and uses a quantitative approach - those based on computer and mathematical models used to predict price movements.
From the end of 1989 through 2006 the firm's flag ship hedge fund, the Medallion Fund, has returned 38.5% annually after fees.
Because of its great success, Renaissance charges a 5% management fee plus a 44% incentive fee. The standard industry hedge fund fee arrangement is a 2% management fee and 20% of profits above a specific benchmark.
Renaissance hires some of the smartest minds available. It is said that over half the researchers have a PhD.
Renaissance has locations in Long Island, New York, San Francisco, London and Milan.
YAO -- the Newest Addition to a Growing Suite of China-Focused ETFs LISLE, Ill.--(BUSINESS WIRE)-- Claymore Securities, Inc., today announced the launch of the Claymore/AlphaShares China All-Cap ETF (NYSE Arca: YAO) on the NYSE Arca, Inc. ("NYSE Arca"). YAO is Claymore's third China-focused ETF joining the ranks of Claymore's existing China-based ETFs - the Claymore/AlphaShares China Small Cap Index ETF (NYSE Arca: HAO), the first ETF to focus on Chinese small-cap companies, and the Claymore/AlphaShares China Real Estate ETF (NYSE Arca: TAO), the first ETF to focus on Chinese real estate companies. ...
Here is a recap of the top news items from this week on Wall Street:
1. Demonstrating investors near- and medium-term concerns related to the US dollar and the stock market, gold prices hit new all-time highs this week. Gold finished this week's trading above $1,050 and related miners and producers rallied with the commodity. As the trade normally goes, the US dollar moved in opposition to gold.
2. Alcoa (NYSE: AA) kicked off the Q3 earnings season this week, beating the Street's estimates on both the top and bottom line ...
SHENZHEN, China, Oct. 7 /PRNewswire-Asia-FirstCall/ -- Noah Education Holdings Ltd. (NYSE: NED, "Noah" or "the Company"), a leading provider of supplementary education products and services in China, today announced that Noah will make a strategic investment, in the amount of US$1 million, in the convertible preferred stock (the "Series B Preferred") of Saunders Acquisition Corporation ("Saunders"), a Delaware corporation recently formed for the purpose of consummating a merger (the "Merger") with and into Franklin Electronic Publishers, Incorporated, a Pennsylvania corporation ("Franklin"). Saunders is currently owned by the senior management of Franklin. Noah will subscribe the Series B Preferred prior to the consummation of the Merger. On the effective date of the Merger, shares of the convertible redeemable preferred stocks (the "Series A Preferred") and the Series B Preferred of Saunders, including the Series B Preferred to be subscribed by Noah, will be converted into shares of Series A ...
James Simons Renaissance Technologies hedge funds, one of the most successful hedge funds for years, released its 13F for the quarter ended March 31, 2009.
Simons' Renaissance is a black-box, meaning we don't know exactly how he picks his stocks but it is assumed that most are based on computer models.
Last year, James Simons was the top hedge fund earner, bringing in $2.5 billion. This year may be a little ...
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