>>11300112he hired mathematicians and physicists to analyze the data, instead of the typical "market analysts" who got meme Econ or Management degrees. get good people to make better predictions than the best people at other investment shops and you win.
buffet did the same thing, but before the "quants" like Simons' employees ran the show. Buffet just hired the best business guys and made a gorrillion by simply trusting smart people over trusting the standard dogma. the common thread between Jim and Warren is that they outsourced their brainpower to fresh academic/smart people instead of trusting the "in-crowd".
there will be another revolution in investment soon. the "quants" i.e. physicists and mathematicians (once they move to finance they rebrand themselves as "data scientists") will be eclipsed by some next big thing. i would bet something along the lines of behavioral psychology or AI (meaning computer scientists).
either way the whole industry is a bunch of middle-man skimming off the top. the political system that allows middle-men like this to siphon off huge fortunes while contributing nothing is a disgrace. Jim is a genius for exploiting the system. his contributions to Chern-Simons theories are far outweighed by his negative contributions to the horrible techno-capitalist system we have now where big banks and investment shops make fortunes off high-frequency trading that only they can afford, which obviously demonstrates how the market is beyond heavily biased in favor of the capitalist corporate establishment to the point where average investors ("the good capitalists") are dead in the water from their conception
