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Jim O'Neill - Welcome To Your New Job
Everyone's favorite N-11 expert is shifting to a new position as head of Goldman Sachs Asset Management. Alas, according to Absolute Return + Alpha, the man who pretty much coined the term decoupling has a substantial uphill climb. Based on the AR+A hedge fund score sheet, GSAM ranks almost dead last in the categories of Alignment of Interests and Alpha Generation (in the last category only beaten by quants AQR and RenTec, where Jim Simons praises the HFT role in the Flash Crash. We wonder if he will change his (swan) song once the SEC finally discovers that it was the HFT's fault all along... some time in 100 years).
From AR+A on alignment of interests:
And on alpha generation:
And once again, Jim, congrats. Your new post is just so.... you.
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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.
Oooh Tyler,
Cutting!
DavidC
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