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This made my jaw drop: "Its Medallion fund, which now manages money for its employees only, was the most prolific user of basket options. The fund has earned an
by throwaway6497 11y ago
This made my jaw drop:
"Its Medallion fund, which now manages money for its employees only, was the most prolific user of basket options. The fund has earned an average annual return of more than 35 percent for two decades."
$25 billion is all employees money; Even if we exclude Simon's money ($14 billion) it is a ton.
35% avg annualized returns for 20 years.
Simply stunning.
- Tycho 11y agoActually the Medallion fund is only about $6 billion I believe. The rest of the money is managed in funds which are open to non-employees (and those ones don't make anything close to 35% annualised returns).
- auntienomen 11y agoOne other wibble: the 35% isn't the average, but rather the smallest annual return.
- ssanders82 11y ago"average annual return of more than 35 percent" I don't think they meant every year was greater than 35%, I interpreted it as the overall average is more than 35%.
- MagicWishMonkey 11y agoDo you know which funds are available to non-employees?
- Tycho 11y agoThe ones I know of are RIEF (Renaissance Institutional Equities Fund) RIDA (Renaissance Institutional Diversified Alpha) RIFF (Renaissance Institutional Futures Fund) Of course there's probably still very large minimum investment thresholds.