Jim Simons attends the IAS Einstein Gala held in honor of Jim Simons at Pier 60 in Chelsea Piers, New York City.
Sylvain Gabri | Patrick McMullen | Getty Images
Jim Simons, the mathematician who founded one of the most successful quantitative hedge funds of all time, died in New York on Friday, his foundation announced on its website.
Simons pioneered mathematical models and algorithms for investment decisions and left an extraordinary track record at Renaissance Technologies, beating legends such as Warren Buffett and George Soros. Its flagship Medallion Fund has returned 66% annually since 2018, according to the book “The Man Who Solved the Market” by Gregory Zuckerman.
During the Vietnam War, he served as a codebreaker for the U.S. intelligence agency that fought the Soviet Union and successfully cracked Russian codes.
Simons received a bachelor’s degree in mathematics from MIT in 1958 and a Ph.D. in mathematics from the University of California, Berkeley, at the age of 23. Try trading.
Unlike most investors who study fundamentals to assess a company’s value, Simmons relies entirely on automated trading systems to exploit market inefficiencies and trading patterns.
The Simons Foundation stated that Simons previously served as chairman of the Department of Mathematics at Stony Brook University in New York, and his mathematical breakthroughs played an important role in fields such as string theory, topology, and condensed matter physics.
He remained active in the work of the Simons Foundation until the end of his life. Simmons is survived by his wife, three children, five grandchildren and one great-grandchild.
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