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I just finished the new book on Jim Simons (The Man Who Solved the Market). It is quite a good story and well written. If you expect to learn very much new about how the Renaissance system works, you will likely be disappointed. My 25iQ post on that is: google.com/amp/s/25iq.com…
The best one sentence quote from Jim Simons about the system from the links at the end of my 25iQ post is:

"Efficient market theory is correct in that there are no gross inefficiencies, but we look at anomalies that may be small in size and brief in time.”
From a NYT review: "I think the market is reasonably close to efficient,” another well-known quant, Clifford Asness, once told me, “but there are a lot of little inefficiencies.” google.com/amp/s/www.nyti…
Ben Carlson has an excellent review that quotes key sentences from the book like:

"LTCM’s basic error was believing its models were truth,” Patterson says. “We never believed our models reflected reality — just some aspects of reality.” awealthofcommonsense.com/2019/11/non-in…
"... by combining all their trading signals and portfolio requirements into a single, monolithic model, Renaissance could easily test and add new signals, instantly knowing if the gains from a potential new strategy were likely to top its costs."
"Renaissance was exploiting the foibles and faults of fellow speculators, both big and small."

Ben Carlson writes: "One of their researchers joked it was mostly overconfident dentists who frequently traded that they took advantage of."

“It's a lot of dentists,” Laufer said.
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