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They still make you tons of money net of fees. However, because of their success, they very quickly attracted all the money they thought they could handle and c
by ves 10y ago
They still make you tons of money net of fees. However, because of their success, they very quickly attracted all the money they thought they could handle and closed the fund to new investors.
I think recently their performance slipped a bit and they started taking money again, but the above point was true for a long time.
- auntienomen 10y agoThere's a subtlety here: Renaissance is a company which manages hedge funds. They're famous because their main fund, Medallion, has done exceptionally well. The only investors in Medallion are Renaissance employees; it's capacity is limited, so that even employees can't generally invest as much as they'd like. Renaissance also manages several other hedge funds, which have much higher capacity, and have both employee and outside investors.