Legendary hedge fund founder James Harris Simons has a Net Worth $10.7 Billion. 73 year old Simons lives in Manhattan with his wife and his daughter, Audrey. His older children, Liz and Nathaniel, live in California.
He recently retired as President of Renaissance Technologies LLC, hedge fund roughly $20 billion under management. The firm’s funds earned net returns as high as 33% in 2011. The MIT grad started his career as a theoretical mathematician and was a code breaker for the U.S. Department of Defense during the Vietnam War. Read More from Hedgeho James Simons Hedge Fund Trading Style profile.
Previously he was chairman of the Mathematics Department at the State University of New York at Stony Brook. Earlier in his career he was a cryptanalyst at the Institute of Defense Analyses in Princeton, and taught mathematics at the Massachusetts Institute of Technology and Harvard University.
Renaissance uses computer-based models to predict price changes in easily-traded financial instruments. These models are based on analyzing as much data as can be gathered, then looking for non-random movements to make predictions.
Renaissance aims to find small market anomalies and inefficiencies that can support profitable trading on billions of dollars of capital. Though all quant shops are alike in their dedication to models — Let the best algorithm win! Renaissance’s approach differs from the “convergence trading” popularized by John Meriwether’s Long-Term
Capital Management and similar arbitrage shops. Convergence traders price financial instruments based on complex mathematical models, find two different instruments that are cheap and expensive on a relative basis and then buy one and sell the other, betting that the prices will, at some point, have to return to their proper level. The Renaissance approach requires that trades pay off in a limited, specified time frame. And Renaissance traders never override the models.
He is also among the top earning hedge fund managers of 2011
Dr. Simons holds a BS in mathematics from the Massachusetts Institute of Technology and a PhD in mathematics from the University of California at Berkeley. His scientific research was in the area of geometry and topology. He received the American Mathematical Society Veblen Prize in Geometry in 1975 for work that involved a recasting of the subject of area minimizing multi-dimensional surfaces. A consequence was the settling of two classical questions, the Bernstein Conjecture and the Plateau Problem. Dr. Simons’ most influential research involved the discovery and application of certain measurements, now called the Chern-Simons Invariants, which have wide use, particularly in theoretical physics.
He’s also the founder and Chairman of Math for America, a nonprofit organization with a mission to significantly improve math education in our nation’s public schools. He serves as Trustee of Brookhaven National Laboratory, the Institute for Advanced Study, the Rockefeller University, and the Mathematical Sciences Research Institute in Berkeley. He is a member of the Board of the MIT Corporation and the Stony Brook Foundation Board. Together with his wife, Marilyn, Dr. Simons manages the Simons Foundation, a charitable organization devoted to scientific research.
James Simons with wife Marilyn (above) Below Hedge Fund Manager Soros with Simons
He’s also been a big donor in the research field of autism, a disease which afflicts his younger daughter, and also manages Simons Foundation, a charitable organization devoted to scientific research. Married twice, Simons has three children, and now lives in Manhattan with his wife Marilyn Hawrys Simons and daughter Audrey, other children lives in California and manages their father’s business.
Six-acre estate East Setauket is the home of the famous mathematician and billionaire founder of Renaissance Technologies, James H. Simons who lives here with his wife Marilyn Hawrys Simons and daughter Audrey. There is not much information about this house, as Simons is known to be a secretive person who typically avoids the press.
He is a savy poker player and also among the Hedgeho Hedge Fund Poker Aces