Zuckerman’s book provides an enjoyable, easy-to-read account, complete with vivid characterizations that animate the eccentric personalities behind the ascent of Renaissance Technologies and its predecessors. As anticipated, the book doesn’t delve into the intricacies of Renaissance’s investment system. In the words of Mark Cuban, “If you find a secret formula to make money, you may not want to share it with others.” While the book aims for accessibility to readers of all levels of investing knowledge, it may not be suitable for beginners, as it presupposes a basic understanding of finance concepts. I will try not to go into many details, I don’t want to ruin all the fun.
Jim Simons will undoubtedly be remembered as a trailblazer, introducing mathematics (including algorithms, big data, and machine learning) to the markets long before the advent of quantitative trading. A mathematical prodigy, he earned his math degree and PhD before the age of 24. Unlike Warren Buffett, who began investing at the tender age of 11, Simons entered the stock market in his late thirties. Despite his successful career leading SUNY Stony Brook’s math department, Simons found life lacking in excitement. He didn’t see himself heading the Math department for the rest of his life and he still had a fire in him.