A conversation with Jim Simons: Mathematics, Common Sense and Good Luck
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- Опубликовано: 14 май 2024
- During the 2022 Abel lectures Jim Simons had a conversation with Nils A. Baas and Nicolai Tangen. The lectures were held at The University of Oslo, May 25th, in connection with the 2022 Abel Prize Week celebrations.
Jim Simons is an American mathematician, hedge fund manager, and philanthropist. Simons is known for using mathematical methods and algorithms to make investment gains. In addition to this, he is a long-time acquaintance of Dennis Sullivan, and in 2008 the duo wrote a paper together.
Nils A. Baas is a Norwegian mathematician and professor at Norwegian University of Science and Technology.
Nicolai Tangen is the CEO of Norges Bank Investment Management, tasked with managing the Norwegian Sovereign Wealth Fund, which is the largest publicly held financial fund in the world, owning approximately 1.4% of the world’s listed companies. 
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## Jim Simons Principles
1. Be guided by beauty. Just as a great theoram can be very beautiful, a business managed efficiently can be beautiful.
2. Sorround yourself by the smartest and best people you can possibly can have, and let them do their thing.
3. Don’t run with the pack. If everyone is trying to solve the same problem or a group of people think something is the great thing to do - don’t do that. “I’m not the fastes runner, i’m not the fateste thinker”. Do something original and don’t follow the pack.
4. Don’t give up easily. Stick with it. Not forever - but really give it a chance.
5. Hope for good luck. This is the most important principle.
Thanks for summarizing with articulation. :)
be guided by beauty - a non beautiful man
It's helpful to see Jim talk about math. It reinforces the truth that you aren't smart enough to do what he did.
Where there is a will there is a way.. Do it with all your heart and nature surrenders.. Or let's admire the beauty. :)
@@bvramaiah5959 If you do trading (which is what Renaissance does) with all your heart and you have no talent, you'll be bankrupt very quickly
@@Jannikheu lmao true. I hate these delusionally motivational sayings
You don't have to be the smartest, as long as you can hire the smartest talent.
@@bvramaiah5959 and lose your money
For the last 10 years Mr Simon's has been a great window to what's possible.
Don't follow the pack. Don't run with the pack. Do something original.
Don't give up easily, stick with it.
Best news of this is that he's finally writing his memoirs
Exactly! Hopefully he comes around to finishing it before it's too late. I know I'll be the first to snap one up.
@@mushrifsaidinhas he finished?
They have the father of quant investing to make a rare appearance on stage and this pair ask some of the most tedious, pedestrian questions...Jim had to ask several times what exactly they were asking
Jim simons. Is so great he is very generous... He gave hints about his strategy very long ago.. But people should have phd in mathematics , quantum physics , astronomy and computer science.. To understand it.. And nobody takes such pain nor they are curious enough to learn all those.. Soo..no money hunny..
what hints?
@@cornagojar it's not the peak of mount Everest that makes you feel alive but it's the journey.. Pointing out there are hints is way too much to reveal already I guess rest is your part to do.. :)
@@bvramaiah5959 You basically sound like a retarded pseudo intellectual who talks out of his own ass and nothing of what you just said has any substance. Grow up.
Yea it’s about connections on fiber bundles or as physicists like to call it gauge theory. Started with the wu Yang dictionary where Jim was invited by the physicists to give seminars to some physicists and discovered that both fields had developed a the same framework, so a dictionary was made to go back and forth between these two fields. This dictionary is called the wu Yang dictionary. It’s one of the greatest moments in the history of science that created a revolution that still ongoing till this day. What was discovered is that the quantum theory which governs 3 of the 4 forces in nature (weak force, strong force and EM) can be explained through fiber bundle geometry. Quantum field theory which previously was thought to be a weird collection of techniques was actually a natural geometric structure.
Now how does this relate to economics and markets you say?
Well what is stunning is that economics has the exact same structure!!!!! But the economists have been slow to recognise this. What’s even crazier is that Nobel winner Paul Samuelson was looking for it in the 1950s when he gave his Nobel lecture. He characterised it as the non integrability of indifferent surfaces but he simply did not have the mathematical knowledge to solve it. After this discovery jim likely realised this opportunity snd thus setup a hedge fund to capitalise on this stunning discovery. Renaissance is the greatest hedge fund in history average 66% yearly for 30 yrs and genrating an estimated over 100 billion dollars in the process.
@@mattpiper266 👌💯
This man is brilliant, the knowledge that is needed to even understand what he says is insane, we’ve tried to break it down in our video, hopefully it will give you a better view of how you can learn and do exactly like Jim
Very good interview
THANK YOU :-)
i have listened to Zuckerman's audiobook 100 times. A huge key takeaway for me....Simons was persistent for years pushing towards systemization when no one was doing it. Also, his hiring and management of staff was nothing short of brilliant. I have started 7 businesses...doing what he did, when he did it, how he did it and today they are stronger than ever is rare rare rare.
Can u pls explain last 3lines, from i have started 7 business
I'm confused whether u r refering urself or simon
@@rohitbtsarmy4356 I have started the business...me
@@mikestarks8464 tq , do u tell me, other great person similar to simon
Yeah I think I know what you mean. And also he might be looking at things differently. Are you finance background for example?
Also Zuckermann says the most important thing: James loved making money
IMO that's the most thing.
What a legend this guy is!
I just heard about him and I've watched and read as much as I can. What a fascinating person and life.
Smartest billionaire
Bless him, he now looking very tired
Very interesting
It'll be nice to know how the tic happens. I know demand and supply are factors but how does it happen?
Interesting.
Just curious, does he have a large hole in his top right ear ( see the white spot at 09:43 )
or is it just the glasses?
Seems like a hole in his ear to me. Wasn't there a year ago. Skin cancer treatment, perhaps?
It's the microphone
briliant man !
He Played Very Well trying not leak
The man who solved the market, what a legend. But painful to hear the silly questions being asked. And hes a very old man, so normal for him to be a bit slow and bad hearing.
all of that and not a single example of a math field used to trade, not a single one, which is the most interesting question. What anomalies do you find, how for example, etc.
But above he rightly hired and employed Daniel Bernoulli's work on emolumentum
"Proprietary data" LOL
NICE.
Does he even know what the secret medallion strategy is tho or does he just collect the huge profits, and his workers manage the codes?
he is the goat...
Best investor in the world.
Warren Buffett.
Please forgive me, Simmons is using algorithms to mine data knowing when to buy and sell security at the right time.
his traders were prioritized before other people's , that was a big secret
@@jeffreyschnitman2484 his traders were prioritized before other people's , that was a big secret
Who is Dennis?
His close friend, mathematician Dennis Sullivan, 2022 Abel Prize recipient, and so the reason Jim Simons is in Oslo.
Richard dennis?
I have no idea what he’s saying but since he’s a billionaire I’m listening with both ears opening lol!
And, he still doesn't have the habit of wearing socks.
Congratulations to any of you who knows what the heck he's talking about.
He's just rambling. I took a few classes ar StonyBrook. Nice place.
15:50
41:00
I Hope Simons has the best healthcare he doesn't seem too healthy for some reason.
He is 84 btw. ANd writing his memoirs... should probably tell you something...
I had a similar impression, esp. compared to some other interviews I watched only a couple of years ago. Hopefully not something serious and he was just exhausted or something.
@@irinaspalko7846 Idk I've noticed in other interviews he speaks pretty slowly. He's pretty efficient with his words and speaks to the point. I wouldn't say it seems like he's unhealthy especially for being 84 and speaking about maths like this.
@@broombroom3208 and also a lifelong heavy smoker
he is a smoker
RIP 🙁
"i dont think we have any proprietary data"... meanwhile he describes math that relates to people who investigate time travel... ok Jim lol
Richest Mathematician
@Rick Sanchez D99 Technically engineers are not mathematicians and engineering is applied physics .
@Rick Sanchez D99 No. Applied mathematics is a field, usually one could only be (called) an applied mathematician after one obtained a PhD degree in mathematics/applied mathematics or related field. Studying in applied mathematics involved working with lots of theorems, proofs rigorously which I doubt engineers nowadays can do any.
To put it briefly, applied mathematician is a subset of mathematician, but engineers is not a subset of mathematician, therefore engineers clearly are not applied mathematician.
@Rick Sanchez D99 There are many fields where mathematical applications are required but it doesn't mean all of them are applied mathematics .
@Rick Sanchez D99 SANCHEZ is talking about Physics and Math?!?!
ROFL 🤣🤣🤣
This mother,
Dealt with the Ochoas. Thus the American military.cia.
Do you have Google
oh yeah.... hes knows some secret government shit FOR SURE
Finance man asking too many questions. Showd have let maths guy ask more questions
Just don't give a straight answer 😂
If I
This is a good video, I will forever be indebted to you Gardner 😇you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment in money market, thanks so much Mrs Rose Gardner
As a high school teacher, I got introduced to Ms, Gardner during the pandemic year, I cried about challenges I was facing here in Ireland, during my time working with her, I was able generate returns on my investment.
It hasn’t been easy trying to invest as a newbie with few knowledge. I’m trying to create a new stream of passive income. How can i reach out to her? she could be of great help
@ROSEGARDNERBIS
Hi, I train forex trading at a fee of 450 USD, slightly negotiable. The strategy works on any pair
Passive income is the only way you can be part of 10% population and seprate yourself from the Average population. YASIN NABI~~
It's sad that a professor at Harvard can't make a living
Stupid jeffrey
notice how in the end he said he started with fundamentals and wasn't technical at all. and you have these gurus telling you how important fundamentals are lool and the richest man done it using technical
He's full of BS in responding to the "which type of data do you collect" question - doesn't want to reveal the secret sauce lol
I don’t believe this is true although this has been the narrative for years.
Dont jump the gun here buddy. What he means is that they are collecting all possible publicly available data. How his system interprets the correlation between that vast amount of information….. that is the million dollar question and he wont give it away ofcourse
@@stelios83it’s the multibillion dollar question!
they definitely collect more than just publicly available data, 90% of financial quantitative analysis is having access to higher quality data than the market.
If he reveals, you and I wouldn't benefit. Other rich guys would use them and make money.
May Allah guide you to the straight path of Islam Jim Simons
Humility is not one of his qualities. All though he is a great guy, I get a visceral antipathy when I hear him speak.
but didn't he take away smart people from doing useful work for society and used them to pile up cash? shame really
dudes full of himself…writing his own obituary…pathetic