Jim Simons founder of successful quantitative hedge fund passes away at 86

Jim Simons, a mathematician and founder of successful quantitative hedge fund of all time passes away at 86 on Friday in New York City.

Jim Simons trading strategist
Jim Simons passes away at 86 in New York City

Jim Simons a famous mathematician known for finding the most successful quantitative hedge fund of all time, unfortunately passed away at 86 on Friday in New York City, mentioned by his foundation website also known as Simons Foundation, an organization focused in advanced research in basic sciences and applied mathematics.

Jim Simons greatest hedge fund manager passes away at 86

Who is Jim Simons

James Harris Simons aka Jim Simons born on April 25, 1938 in Newton, Massachusetts, United States of America. He was a mathematician first and an American hedge fund manager later, he founded his company Renaissance Technologies based on his successful quantitative methodology in east Setauket New York. Jim Simons used various mathematical models along with his reliance quantitative models aided him in garnering immense success on the traders row known as Wall Street.

One of the most used strategy by Simons as a successful hedge fund manager was to diversify his investments on the basis of using mathematical formulas which helped in analyze current market trends rather than focusing on a single block of investment along with removing any emotional biasness and focusing on purely numbers. Subsequently, he adopted methods of systematic approach in his trading strategies allowing him to take right decisions during market inefficiencies allowing him to gain traction on capital on short-term fluctuations.

Another, distinctive aspect of Jim Simons was to be patient so as to understand the positioning of his investments rather then losing focus through the short-term noises usually seen in the stock market scenario. Subsequently, his usage of his quantitative measure helped him gain insight on trending market investments. His establish company known as renaissance technologies, employs team of skilled and talented mathematicians, scientists and computer programmers who help to identity patterns in investment trading through advanced algorithms that aids in executing trades with efficiency and precision.

Jim Simons was named “the most successful hedge fund manager of all time” at his time of his death his net worth stands at an astonishing 31.4 billion USD, making him the No. 51 of the richest person in the world.

Jim Simons and his immense wealth

Simons gained much of wealth through his firm Renaissance Technologies hedge funds, that trade in markets based at every location around the world. He used mathematical models to analyze and execute trades that were mostly automated. Renaissance used computer that would predict future changes and prices after gathering the information based on markets non-random movements which in turn benefitted Simons with almost accurate indications and predications on market trends.

In 2014, Simons earned around 1.2 billion USD, that included cash compensation, stock, option reward and a share of his organization’s management as well as performance fees. Forbes Magazine mentioned him as the 25th richest person in their Forbes 400 list. In 2018, he was ranked at number 23 as the worlds richest and in 2019 he was named as one of the highest earning hedge fund managers and traders by Forbes.

Jim also has a son and a daughter, his Son Nat Simon, an investor and philanthropist and his daughter, Liz Simons, an educator and philanthropist.

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