Bestselling author and veteran Wall Street Journal reporter Gregory Zuckerman answers the question investors have been asking for decades: How did Jim Simons do it?
Jim Simons is the greatest money maker in modern financial history. His track record bests those of legendary investors including Warren Buffett, Peter Lynch, Ray Dalio, and George Soros. Yet Simons and his strategies are shrouded in mystery. Wall Street insiders have long craved a view into Simons's singular mind, as well as the definitive account of how his secretive hedge fund, Renaissance Technologies, came to dominate financial markets. Bestselling author and Wall Street Journal reporter Gregory Zuckerman delivers the goods.
After a legendary career as a mathematician at MIT and Harvard, and a stint breaking Soviet code for the U.S. government, Simons set out to conquer financial markets with a radical approach. He hired mathematicians, physicists, and computer scientists, most of whom knew little about finance. Experts scoffed as Simons built Renaissance Technologies from a dreary Long Island strip mall. He amassed piles of data and developed algorithms to hunt for deeply hidden patterns in the numbers--patterns that reveal rules governing all markets.
Simons and his colleagues became some of the richest individuals in the world and their data-driven approach launched a quantitative revolution on Wall Street. They also anticipated dramatic shifts in society. Eventually, governments, sports teams, hospitals, and businesses in almost every industry embraced Simons's methods.
Simons and his team used their newfound wealth to upend society. Simons has become a major influence in scientific research, education, and politics, while senior executive Robert Mercer is more responsible than anyone else for Donald Trump's victorious presidential campaign. The Renaissance team's models didn't prepare executives for the ensuing backlash.
The Man Who Solved the Market is the dramatic story of how Jim Simons and a group of unlikely mathematicians remade Wall Street and transformed the world.
##比外麵看到的要艱辛許多。
評分##19#15 (又一本)曾經求翻而未得的書。略有失望,但仍然有趣,結尾稍弱,整體隻能算是中規中矩。Simmons雖然招募瞭一支纔華橫溢的科學傢團隊,“launch”瞭量化革命,但嚴格地“the man who solved the market”的標題有標題黨之嫌。與LTCM之間的對比很有趣。但大奬章仍然是那個神秘的大奬章,中間幾個章節充斥著“進一步改進瞭算法”、“效果拔群”之類的描述,但乾貨太少。作為2019年最後一本書(highly likely),希望自己明年也能solve一些東西吧。
評分##【第三十三本】要讀一本英文原著真是費時間啊,前前後後讀瞭三周時間。像文藝復興基金,西濛斯這樣的高頻量化基金的故事總是充滿瞭神秘和嚮往,打敗市場對傳奇和量化高頻交易的鼻祖,讓很多人神往。但是真的讀瞭這本書後纔發現,整個公司的創始和發展曆程充滿瞭波摺和變化,即使是西濛斯這樣的學術大拿也不是說輕鬆搞定市場的,何況最大的調整不僅僅是模型,而是如何管理手下這麼多天纔和科學傢,讓大傢能在同一個平颱為同一個目標一起努力,這遠比西濛斯研究數學問題要來的復雜的多。從Baum到Ax到Berlecamp到Mercier和Brown,從最初的趨勢交易到指標交易,慢慢過渡到後來完全機器自動交易,即使取得巨大的成功,但是碰到瞭2008年金融危機時西濛斯還是不能完全信任程序判斷,要人為乾預倉位,所以投資真是一項反人性的事
評分##COVID read
評分##西濛斯無疑是特彆的,他自身並不是傑齣的交易者,直到2018年都還會因為股市暴跌而感到焦慮萬分,但是他開創瞭用機器交易的道路,並且組建瞭一支華爾街局外人的團隊並且取得瞭成功。從他的故事裏麵或許很難學到多少交易的經驗,但是他的經曆無疑足夠有趣,這本書值得一讀。
評分##[有聲書] 因為格外喜歡數學天纔的故事,所以這本聽下來覺得還是相當精彩的!尤其是Simons團隊以機器學習算法為主體的投資方案,雖然書也沒有揭秘多少,但對於我這種對投資毫無瞭解的讀者來說,大概念講得清晰,逸聞趣事也是豐富多彩。早期和發跡的故事固然好聽,但印象最深的反而是結尾處關於這些金融大鰐們“涉足”政治,尤其是2016年Trump的當選和之後的種種,多少讓人有些唏噓。另外Simons的philanthropy也是杠杠的,不說書裏提到的高光項目瞭,哪怕是AMS提供的Simons Travel Grant也是資助瞭我好多數學同事們的科研項目,真是惠及無數啊!所以有錢還是彆參與政治,多給廣大人民提供摸得到的幫助吧,哈哈!
評分##沒啥大意思
評分##[有聲書] 因為格外喜歡數學天纔的故事,所以這本聽下來覺得還是相當精彩的!尤其是Simons團隊以機器學習算法為主體的投資方案,雖然書也沒有揭秘多少,但對於我這種對投資毫無瞭解的讀者來說,大概念講得清晰,逸聞趣事也是豐富多彩。早期和發跡的故事固然好聽,但印象最深的反而是結尾處關於這些金融大鰐們“涉足”政治,尤其是2016年Trump的當選和之後的種種,多少讓人有些唏噓。另外Simons的philanthropy也是杠杠的,不說書裏提到的高光項目瞭,哪怕是AMS提供的Simons Travel Grant也是資助瞭我好多數學同事們的科研項目,真是惠及無數啊!所以有錢還是彆參與政治,多給廣大人民提供摸得到的幫助吧,哈哈!
評分##...main takeaway: they're not flash boys.
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