4 ms·
Every five - 10 years the up to date track record is provided to reputable third parties to curate publicity. For example, Bloomberg and WSJ. Generally speaking
by throwawaymath 7y ago
Every five - 10 years the up to date track record is provided to reputable third parties to curate publicity. For example, Bloomberg and WSJ. Generally speaking though, most firms with a track record like RenTech's prefer to keep it quiet because they don't solicit outside investment.
In particular: RenTech likes to keep a handle on this publicity for the purposes of courting extremely good talent from academia and industry. That's the only reason the Medallion returns are ever intentionally publicized. Anyone investing in RenTech's other funds knows full well they're not getting the alpha powering Medallion's returns.
Simons would probably have preferred to stay entirely under the radar, but the cat's out of the bag already and has been for decades. The most successful hedge funds (like the Princeton Alpha offshoots) don't court publicity because they don't need to pool risk with outside investors. They're not even hedge funds in the common sense of the term; they're proprietary trading firms run on employee and partner capital. Medallion can be thought of a prop shop within a hedge fund in that way.
- auntienomen 7y agoMedallion also had a few external investors until 2010ish, who could be a source for some of the numbers. IIRC, Bill Ziemba published their returns in the mid 2000s sometime. Also, what Princeton Alpha offshoots? IIRC, Princeton Alpha was a PDT spinoff that closed due to poor performance. Maybe you mean Princeton/Newport offshoots?
- throwawaymath 7y agoYes, I meant Newport. The Thorpe folks and such.
- deepnotderp 7y agoHe probably means tgs and co