The NSA hired Jim Simons to crack Soviet codes. He got fired.
While smoking 2 to 3 packs a day, he built a fund that averaged 66% a year for 30 years, made $31 billion, and never hired a single person from Wall Street.Meet the chain-smoking mathematician behind the greatest hedge fund ever madeTimeline:• PhD from Berkeley at 23• Hired by the NSA to crack Soviet codes during the Cold War• Fired for opposing the Vietnam War• Founded Renaissance Technologies in 1978• Launched the Medallion Fund: 66% annual returns, 30 years straight• Hired only mathematicians, physicists, and codebreakers.• Net worth peaked at $31 billion• Passed away in May 2024 at age 86His algorithms still trade today. Here's what they're buying now:$Palantir Tech(PLTR.US) — Palantir, the AI defense contractor. 17.5% of portfolio, up 225%$United Therap(UTHR.US) — United Therapeutics, a biotech building lab-grown organs. Up 109%$Kinross Gold(KGC.US) — Kinross Gold, a gold miner. Up 96%$Exelixis(EXEL.US) — Exelixis, an oncology company most people have never heard of. Up 51%A mathematician who changed Wall Street forever. Rest easy, Jim. The fund lives on
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I B kiss the $6000 gold goodbye...
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Summary of the whole article: Pls exercise caution. Unlike you can profit through continuously monitoring the wild swings, basically everything is at heightened risk. At the top of everyone's heads: How much more ICM and hypersonic missiles are Iran still keeping before they finally unleash, all at once, a death blow to every US aircraft carrier and defeat the US?
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The turmoil will rout the global stock markets. Hopefully the Iranian govt will be toppled and make way for a democratic new one that focuses on economy and equality for women. They must understand that the rest of the world is mot out to kill them. We all want peaceful progress.
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"Spot silver (XAG=) rose 2.1% to $76.76 per ounce, after a 11% drop on Wednesday. * The U.S. dollar was mostly flat"
Last night's shocking plunge hss inflicted so much reversal after the hard-earned partial recovery after that nasty Jan plunge.
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Silver strike price of 125. It is now 75.
Gold and silver plummeted on Thursday, triggered by algorithmic trading sell-offs due to a sharp decline in U.S. stocks?
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Prepared for today's market opening with last night's strategy. The effort paid off.