Secrets of the Greatest Hedge Fund of All Time (with Josh, Michael, and Greg Zuckerman)

The Compound and Friends

Josh Brown

Business News, News, Investing, Business

4.7 • 2.2K Ratings

🗓️ 9 November 2019

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Josh here - we had Greg Zuckerman of the Wall Street Journal up at the Compound to talk about his new book, The Man Who Solved the Market - the first ever deep dive into Jim Simons and his legendary firm Renaissance Technology. Renaissance has pulled over $100 billion in trading profits out of the markets since its founding decades ago, in a highly secretive approach that combines mathematical equations with cutting edge technology. Zuckerman conducted over 400 interviews with current and former employees of the firm and even spent a few days with Simons himself - despite the fact that he didn't want this story told or the book written. You can get The Man Who Solved the Market here: https://amzn.to/2WM6BAY 1-click play or subscribe on your favorite podcast app Subscribe to the mini podcast on iTunes or Spotify Enable our Alexa skill here - "Alexa, play the Compound show!" Talk to us about your portfolio or financial plan here: http://ritholtzwealth.com/ Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi, it's Josh Brown. Welcome to Live from The Compound. I'm here with Michael Batnick as usual and our special guest, Greg Zuckerman.
0:08.0	Greg wrote a book that I think is the best business book of the year. We're going to talk about the greatest hedge fund of all time,
0:16.3	and you guys are really going to love this.
0:18.2	Stick around.
0:18.7	Let's see what's going on.
0:21.1	Okay, first of all, Greg, thanks so much for coming in.
0:24.0	Great to be here.
0:25.0	Before we get into the book, which is amazing, just a little bit on your background quickly.
0:30.0	Your Wall Street Journal, you've been writing about
0:33.0	Quants specifically and finance in general for how many years?
0:36.4	I've been the journal 23 years and I thought.
0:39.4	Yeah no and I'm a buy side guy it's not necessarily quants but guys and women making money losing money
0:47.0	personalities on the street I kind of am a sports guy so a lot of home runs and strikeouts that's sort of my special.
0:53.3	Okay well let me tell you something this is the book that has never been written but
0:58.2	everyone has been waiting for so you got I think you said 400 interviews with employees partners ex-employees of
1:09.2	arguably or maybe definitely the greatest hedge fund of all time renaissance technologies
1:15.7	and specifically the story of how Jim Simons pulled over a hundred billion dollars out of the markets
1:22.3	which nothing else compares right like
1:25.1	Buffett Soros they don't even come close in terms of returns no one comes
1:29.1	close and in terms of personalities they're kind kind of, you could argue,
1:33.0	your pioneers because they've got this approach to markets.
1:36.4	It's just very distinct from everybody else,
	...

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