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At least the Quants have a valid excuse for pathetic performance...
P.S.- Jim... YOU SUCK!
The Hedge Fund model is not an investor model, it's a business model. Good for the HF ALWAYS, good for the investor sometimes but not often (Sorry Jim, hopefully neither you nor your GS clients are reading this ...)
Rennaissance REIF fund trades in human time frames. Using closing data and trying to hold positions, there simply is not enough data for their statistical voodoo to work reliably. In the Medallion Fund, they are using intraday tic data over long time spans and the law of large numbers plus the ability to trade in between eye blinks has allowed for alpha. This by the way was directly from the horses mouth, Jimmy S. himself, several years ago.
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