Jim Simons, a mathematician who founded the most successful quantitative hedge fund of all time, passed away on Friday in New York City, his foundation announced on its website.
Pioneering mathematical models and algorithms to make investment decisions, Simons left behind an otherworldly track record at Renaissance Technologies, that bested legends such as Warren Buffett and George Soros. Its flagship Medallion Fund enjoyed annual returns of 66% during a period starting in 2018, according to Gregory Zuckerman’s book “The Man Who Solved the Market.”
Simons previously chaired the math department at Stony Brook University in New York and his mathematical breakthroughs are instrumental to fields such as string theory, topology and condensed matter physics, his foundation said.
He was active in the work of the Simons Foundation until the end of his life. Simons is survived by his wife, three children, five grandchildren and a great-grandchild.
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