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.
Bill and Melinda Gates rank No.2; twelve new names join the list NEW YORK, Nov. 25 /PRNewswire/ -- For the third consecutive year, Warren Buffett tops BusinessWeek's annual ranking of "The 50 Most Generous Philanthropists." Bill and Melinda Gates, George Kaiser, George Soros, and William Barron Hilton round out the top five. This year 12 new philanthropists join BusinessWeek's 2008 list, which ranks donors based on their gifts over a five-year period. The most generous newcomer is hotel magnate William Barron Hilton, whose $1.7 billion pledge late last year to fund children's and global health causes made him No.?5. His foundation's assets have suffered losses, even though they were diversified in stocks ranging from pharmaceuticals to finance. Many givers on the BusinessWeek ranking made their fortunes during the market's boom times. Now, instead of wealth creation, the U.S. is experiencing a period of wealth contraction, which is influencing just about everything in ...
If you pay attention to the stock market then you've probably heard about the problems in hedge fund land. For the past few months each day is filled with headlines about how much one fund lost and how another is being closed completely, and still others are pulling money out of the market. On Friday, we got a small glimpse on how bad things are getting. Each quarter, hedge funds larger than $100 million must file a 13F disclosing their long market positions as of the end of the quarter. Usually this quarterly ritual is a great way to find new stock ideas, but this quarter the filings just confirm some of the things we've heard about the trouble in the industry.
Below is data from 11 top hedge funds about where they stacked at the end of the quarter. For the most part, the data is showing a significant ...
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5978692
Today, hedge fund managers who shun the limelight, will testify on Capitol Hill later today. The hedge managers testifying include ...
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J. Craig Venter, Ph.D. Receives Double Helix Medal from Cold Spring Harbor Laboratory
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American Academy Inducts 228th Class of Scholars, Scientists, Artists, Civic, Corporate and Philanthropic Leaders
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Medallion Financial (TAXI) Spikes as Altucher Highlights on CNBC
