Renaissance Technologies (Audio)

Renaissance Technologies is the best performing investment firm of all time. And yet no one at RenTec would consider themselves an “investor”, at least in any traditional sense of the word. It’d rather be more accurate to call them scientists — scientists who’ve discovered a system of math, computers and artificial intelligence that has evolved into the greatest money making machine the world has ever seen. And boy does it work: RenTec’s alchemic colossus has posted annual returns in the firm’s flagship Medallion Fund of 68% gross and 40% net over the past 34 years, *while never once losing money*. (For those keeping track at home, $1,000 invested in Medallion in 1988 would have compounded to $46.5B today… if you’d been allowed to keep it in.) Tune in for an incredible story of the small group of rebel mathematicians who didn’t just beat the market, but in the words of author Greg Zuckerman “solved it.” Sponsors: Many thanks to our fantastic Season 14 partners: J.P. Morgan Payments https://bit.ly/acquiredJPMP3yt ServiceNow https://bit.ly/acquiredsn Vanta https://bit.ly/acquiredvanta Links: The Man Who Solved the Market https://www.amazon.com/Man-Who-Solved-Market-Revolution/dp/073521798X The Quants https://www.amazon.com/Quants-Whizzes-Conquered-Street-Destroyed/dp/0307453383 Bloomberg’s 2016 RenTec profile https://www.bloomberg.com/news/articles/2016-11-21/how-renaissance-s-medallion-fund-became-finance-s-blackest-box?embedded-checkout=true All episode sources https://docs.google.com/document/d/1HrVvsp7STlJKP4HgiSw1uyD6toc4AYImNR8q8ulNCFc/edit?usp=sharing Carve Outs: Modern Treasury’s Transfer Conference Registration https://bit.ly/acqtransfer The New Look https://www.imdb.com/title/tt18177528/ Cole Haan x Acquired! https://bit.ly/3PmJjhV Class of Palm Beach (and the Mini Kelly inside the Birkin!!) https://www.instagram.com/classofpalmbeach/ https://www.instagram.com/p/C3bCE12uAwD/?hl=en More Acquired: Get email updates with hints on next episode and follow-ups from recent episodes https://www.acquired.fm/email Join the Slack http://acquired.fm/slack Subscribe to ACQ2 https://pod.link/acquiredlp Check out the latest swag in the ACQ Merch Store! https://www.acquired.fm/store Note: references to Fortune in ServiceNow sponsor sections are from Fortune ©2023. Used under license. Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions. © Copyright ACQ, LLC