James Simons, the 'King of Quantitative Analysis', dies at 86

The Simons Foundation announced today that James Harris Simons, co-founder and chairman emeritus, died in New York on May 10, 2024 at the age of 86. Simons is an award-winning mathematician and a legend in quantitative investing. In his 40s, he moved from academia to investing, founded Renaissance Technologies, pioneered quantitative trading, and became one of the most profitable investment companies in history. He was therefore called the "King of Quantitative". Over the past 30 years, his returns have consistently outperformed the market. His most famous fund, Medallion, has returned more than 4 times the S&P 500. From 1988 to 2023, even after deducting high fees, the fund's average annual return has reached an astonishing nearly 40%. (Jinshi)