QuoteOriginally posted by: KackToodlesQuoteOriginally posted by: madmaxDo you know how much they pay ? Because I have been told that they pay higherI don't know how much they pay. I seriously doubt they pay higher (unless you are one of the high up indispensible managers). Think about it: if you're an entry level quant and you have bulge bracket bank offers on wall street, why would you go to work at rentec?You're not in the same league as Simons. You and twophish know nothing about QF. You're just a couple of blowhards.One more time...QuoteMark Silber, chief financial officer of US-based Renaissance Technologies, said: "By the end of the year, the investors in Medallion will be entirely comprised of affiliates of Renaissance Technologies, meaning employees, ex-employees and their family members." The fund, which has been running for almost 20 years and was described by investment consultant Jacob Schmidt as the most successful hedge fund ever, has generated annualised net investment returns of 34.2% a year since inception in 1988, according to an investor. Silber said it had made 27.2% for the first 11 months of 2005, the most up-to-date figure available. The net return is stated after management fees of 5% and performance fees of 44%. These fees are significantly higher than the 2% and 20% typically charged by hedge funds. A large portion of the fees go to Renaissance Technologies' employees, whom the firm has allowed to invest in the Medallion fund. Jim Simons, the firm's founder and president, is believed to have $2.7bn invested in Medallion, according to hedge fund sources. The firm has kept down the size of the fund by returning capital to external investors. Silber said: "We have been giving money back for several years because we have capacity constraints, we don't want to reduce returns." Medallion, which relies entirely on computer systems to identify pricing anomalies, switches in and out of positions within a day, and transaction costs limit its size. Renaissance Technologies in August launched a separate fund with a capacity it estimates at $100bn, which would make it the largest hedge fund in the world. The new fund may hold positions for up to 10 years, according to rival quantitative hedge fund managers, and is targeting a return of 3% or more a year above the S&P 500.They are the elite of the elite of the elite in Hi freq trading. They know how to make money (unlike you).
Last edited by TraderJoe
on February 2nd, 2007, 11:00 pm, edited 1 time in total.