Chad Urdy

“For all the unique data, computer firepower, special talent, and trading and risk-management expertise Renaissance has gathered, the firm only profits on barely more than 50 percent of its trades, a sign of how challenging it is to try to beat the market—and how foolish it is for most investors to try.”
― Gregory Zuckerman, The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution

“When the Axcom team started testing the approach, they quickly began to see improved results. The firm began incorporating higher dimensional kernel regression approaches, which seemed to work best for trending models, or those predicting how long certain investments would keep moving in a trend.”
― Gregory Zuckerman, The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution

“The strategies were often based on the idea that prices tend to revert after an initial move higher or lower. Laufer would buy futures contracts if they opened at unusually low prices compared with their previous closing price, and sell if prices began the day much higher than their previous close. Simons made his own improvements to the evolving system, while insisting that the team work together and share credit.”
― Gregory Zuckerman, The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution

“Monemetrics would invest a bit of money for Simons, testing strategies in a variety of markets. If the tactics looked profitable, Simons would place the same trades in Limroy, which was much bigger and would invest for outsiders as well as for Simons. Baum would share in the 25 percent cut the firm claimed from all its trading profits.”
― Gregory Zuckerman, The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution