Bestselling author and veteran Wall Street Journal reporter Gregory Zuckerman answers the question investors have been asking for decades: How did Jim Simons do it?
Jim Simons is the greatest money maker in modern financial history. His track record bests those of legendary investors including Warren Buffett, Peter Lynch, Ray Dalio, and George Soros. Yet Simons and his strategi...
Bestselling author and veteran Wall Street Journal reporter Gregory Zuckerman answers the question investors have been asking for decades: How did Jim Simons do it?
Jim Simons is the greatest money maker in modern financial history. His track record bests those of legendary investors including Warren Buffett, Peter Lynch, Ray Dalio, and George Soros. Yet Simons and his strategies are shrouded in mystery. Wall Street insiders have long craved a view into Simons's singular mind, as well as the definitive account of how his secretive hedge fund, Renaissance Technologies, came to dominate financial markets. Bestselling author and Wall Street Journal reporter Gregory Zuckerman delivers the goods.
After a legendary career as a mathematician at MIT and Harvard, and a stint breaking Soviet code for the U.S. government, Simons set out to conquer financial markets with a radical approach. He hired mathematicians, physicists, and computer scientists, most of whom knew little about finance. Experts scoffed as Simons built Renaissance Technologies from a dreary Long Island strip mall. He amassed piles of data and developed algorithms to hunt for deeply hidden patterns in the numbers--patterns that reveal rules governing all markets.
Simons and his colleagues became some of the richest individuals in the world and their data-driven approach launched a quantitative revolution on Wall Street. They also anticipated dramatic shifts in society. Eventually, governments, sports teams, hospitals, and businesses in almost every industry embraced Simons's methods.
Simons and his team used their newfound wealth to upend society. Simons has become a major influence in scientific research, education, and politics, while senior executive Robert Mercer is more responsible than anyone else for Donald Trump's victorious presidential campaign. The Renaissance team's models didn't prepare executives for the ensuing backlash.
The Man Who Solved the Market is the dramatic story of how Jim Simons and a group of unlikely mathematicians remade Wall Street and transformed the world.
Gregory Zuckerman is the author of The Greatest Trade Ever and The Frackers, and is a Special Writer at the Wall Street Journal. At the Journal, Zuckerman writes about financial firms, personalities and trades, as well as hedge funds and other investing and business topics. He's a three-time winner of the Gerald Loeb award, the highest honor in business journalism. Zuckerman al...
Gregory Zuckerman is the author of The Greatest Trade Ever and The Frackers, and is a Special Writer at the Wall Street Journal. At the Journal, Zuckerman writes about financial firms, personalities and trades, as well as hedge funds and other investing and business topics. He's a three-time winner of the Gerald Loeb award, the highest honor in business journalism. Zuckerman also appears regularly on CNBC, Fox Business and other networks and radio stations around the globe.
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最近这本书实在太火，周末抽空读了一下，还是比较有意思。当然为了好卖这本书很多部分透露出浓浓的地摊文学风。不过关于投资交易的部分，其实还是比较有见地。至少通过这本书，做FOF的可以知道正经的量化策略长什么样子，什么是正道，减少被忽悠的概率。考虑到很多朋友懒得看英文，我就把一些干货总结一下。
第一章～第二章
主要讲了西蒙斯（Simons）个人经历。
从小他就爱思考，并且在数学上展现了不俗的天赋。但是与普通数学家不同，他也很爱钱，不是他奢侈，而是喜欢金钱带给他的力量。他第一任老婆说：
“Jim understood at an early age that money is power. He didn’t want people to have power over him.”。
拿到PhD后他先去哈佛教书，后来生活所迫并且觉得无聊就跑去国防分析研究所IDA工作，专门破解苏联密文。这段经历对他影响很大：
1. 这是段很纯粹的经历，每天就是想点子破解密文；
2. 从加密过的信息还原信息自己与从股市中找信号有点类似；
3. 国防分析研究所虽然对外隔绝，但内部环境开放，鼓励相互交流，促使他未来管理公司采取鼓励交流的态度；
4. 认识了数学家Baum等好友，日后跟他合作很深；
5. Simons展现了极好的与人合作的能力，比如喜社交，爱聆听；
6. 工作内容不饱和，自己搞研究搞出了大成果，同时做了个股票模型，通过市场行为把市场分成8个状态（虽然没啥实际用处），为日后的投资打下基础。
Simons的方法在当时很有先驱性，当然还有爱德华比他更早（索普是首先关注到21点里的条件概率并以此在概率上打败了赌场）。
在当时主流炒股模式是基本面分... (查看原文)
Each week, Simons decided, Brown, Mercer, and other senior executives would be assigned three papers to read, digest and present - a book club for quants with a passion for money rather than sex or murder. After reading several hundred papers, Simons and his colleagues gave up...Reading so many disappointing papers reinforced a certain cynicism within the firm about the ability to predict financial moves. "Anytime you hear financial experts talking about how the market went up because of such and such - remember it's all nonsense, " Brown later would say. (查看原文)
本书的封面赫然写着“业绩远超巴菲特和达利欧”，然而对应着原书副标题(How Jim Simons Launched The Quant Revolution)的其实只有后半句“量化投资之父”。原以为这是出版社为了卖书的宣传，印象最深刻的是《认知天性》一书，书本身是好书，但是中文版给加了个副标题“让学习...
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格里高利·祖克曼 作者
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夏虫碎碎念
天津科学技术出版社2021版（其他版本）
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苏漠笛
天津科学技术出版社2021版（其他版本）
轻策书房
天津科学技术出版社2021版（其他版本）
7 有用 益謙 2019-11-06 22:00:21
刚出版的新书《解决市场的人：西蒙斯如何开创了量化革命》，不管是做基本面还是做量化投资的金融市场专业人员都可以看看。文艺复兴公司的大奖章基金长期年化收益率66%真是神奇的事。里面描绘他早期做的很多期货投机，后来的量化，多次巨额亏损接近清盘，合伙人分道扬镳等等。可惜书里没有说到文艺复兴的老板捐款上亿美元给川普竞选总统成功的事。
1 有用 目送飞鸿 2022-05-20 13:28:01
写得比较乏味。因为公司保密，再加上数学模型也不好表述，具体策略写得比较泛。感觉Mallaby在More Money than God中短短几段的描写都比这本书更清晰一些。人物性格更是浮于表面，只能凑人数，再加点其它金融市场和对冲基金的信息来凑字数，不然凑不成一本书。
2 有用 狼王哈士奇 2020-04-12 13:40:55
一本全面的介绍，Jim Simons早期作为一名天才的数学家获得了成功，后来他成功破解了苏联的通讯密码，并以文艺复兴科技公司为代表在金融投资界掀起了一场革命。通过使用海量数据、算法和计算，他改变了全球金融的运作方式。在积累了巨大的财富之后，他现在是众多组织和进步倡议的有力资助者。https://mp.weixin.qq.com/s/lgRbyYyMCc1SgzX7ElJWwQ
2 有用 后稷 2019-11-07 17:28:46
痛读两天搞定。虽然只是传记，但还是了解到很多的，周末有空时写心得。
3 有用 Paige.C 2020-10-15 02:09:34
欧美经管人物传记类基本上都是流水账，哪怕是乔布斯的也一样。这本前半可以，干货新知以及作为经验教训先例的旁观者都有的看。后半有一些味同嚼蜡，合伙人中晚年享受退休生活，要么参与政治献金要么撕破脸。一家资产管理投资基金公司，招人从不认“大难临头最容易各自飞”的华尔街“人才”，面试只要写论文做演讲以及测试是否接受得了“刁难”。“我能教会他们所有金融知识，但无法直接让他们变聪明。”