3 ms·
It's interesting how two different news organizations report two different views about Renaissance on the same day (17 April). * CNBC chose to only report on t
by docPangloss 6y ago
It's interesting how two different news organizations report two different views about Renaissance on the same day (17 April).
* CNBC chose to only report on the Medallion fund, which is up 24% YTD.
* Bloomberg chose to primarily report on Renaissance's largest fund, REIF -- which is actually down 14% through March 31.
Link: https://www.bloomberg.com/news/articles/2020-04-17/renaissance-says-quant-models-misfired-during-march-mayhem https://www.bloomberg.com/news/articles/2020-04-17/renaissan...
Neither news outlet reported the weighted aggregated return of Renaissance, the firm--which manages several funds by different portfolio managers.
Seems disingenuous at best.
My sense is Renaissance might not be doing nearly as well as it wants the market and public to believe...
- neximo64 6y agoActually if you've been an observer through the years/decades REIF has always been that way. The name renaissance has is from the Medallion fund which is the one to watch. There isnt a reason to weigh the collective returns as the best one, Medallion, is closed off for outside investment.