Thanks to our growing list of Patreon Sponsors and Channel Members for supporting the channel. www.patreon.com/PatrickBoyleOnFinance Marc De Mesel, Annie Chen, Nate Stapleton,Timothy Baird,Cab1260, WIlam, Robertas, Hernan Merino, Random Encounter, Nieuwsbrief Ikwil, Bee Positive Consulting, hyunjung Kim, John Cadena, Ian Tracey, A Smith, Callum McLean, Oscar, Simon Pena, Alexander E F, Cyrus Yari, Ed, Pavle Obradovic, Erik Van Ekelenburg, David O'Connor, Zak Patterson, Ki Ryu Chan, Pjotr Bekkering, Drew, Ivaylo Kunev, Alex, Robert W Proudfoot, EatEmAll, Michael Boensel, pooh shmoo, Robert Muller, Andre Michel, Ivan Iliev, Gopaljee Atulya, Milan Tomic, Mark Hooker, Artem Vasenin, P H, Mathews Sebonego, Sebastian, Michal Lacko, Yann M, VicMR, Peter Bočan, Michael Pierce, V Jordan, Steve Kinnear, Gil, HalfwitHam, Mark Brophy, Patrick T, David Urdenata, Juan Valdez, Bruce Roberts, Chad Norman, Bruce Roberts, Shamikh Rana, Friday Guy, Marc De Mesel, Augusto Ramos, Soy Boomer Doomer, Bob Slartabartfast, Robert Feiler, Camil Dbouk, Erik Montesinos, Matthew Loos, Az Indragiri, Aman Bali, Lautaro Parada, Pratap, Deborah Joseph, Robin Sung, Kurt Johnston, Dominik Auerbach, gurmeet Kaushal, John Hall, Dara Mo and Josef Goergen,
Is there a reason as to why the Medallion fund doesn't increase its capital investment which is capped at 10 billion because they can achieve these monstrous returns at billions of dollars I'm sure there is enough liquidity in the market to where they could increase it to maybe even 30 billion or possibly more
Befor I watch the video, I have to say there are no secret Trading strategys. Everybody is trading on public information! I think it was clever marketing getting him rich.
Hello Patrick, I hope I am not annoying you too much, but could you explain to me or in a video how $GME could be shorted >120% if naked shortselling is illegal?
It’s so hard to find a genuinely great financial channel on platform filled with swindlers and charlatans. You deserve way more subscribers. Can anyone recommend similar channels to Patrick’s ?
Patrick, you truly are an excellent educator. From the tone of your voice, to the rhythm of concise facts. I am continually learning, and lucky to have come across your channel. Thanks, for what you do.
This was interesting but I'd recommend instead of talking about "gains" I'd use the more technical term "tendies" and instead of "stocks" use "stonks" this will allow a broader audience to understand the material.
This was fantastic. A very enigmatic group, quietly moving markets out in the boonies of Long Island. Always been curious about this group, crazy this group had so much inner turmoil vs. the impression of a bunch of PhD math nerds quanting out and playing chess.
What's kind of wild is that a team of mathematicians failed for years, yet I know a few people who barely graduated highschool that were brilliant traders right off the bat. Markets are strange like that. This was a great video and I'm glad you covered the fact that it wasn't peaches and cream all the time for these guys. They struggled and failed for a long time. They fought amongst each other as well.
You are also a brilliant trader. And to celebrate your success you are here now with us on youtube and commenting. For everyone else I hope you can differentiate yourself, a meantball with 200+ cognitive biases, and a sentient super-intelligence like a corporation with checks and balancess
OMG that clip of Bowie on Bing Crosby's Christmas special cracks me up every time, especially since you timed it to play when you said "moving with the times". Perfect.
Indeed. People need to be extremely wary of so-called financial experts and gurus. Most are outright fraudsters. If an investment fund or investment advisor says they can achieve consistent high annual returns, they're lying. Nobody can promise that. Even Warrent Buffet and the real professions with 50+ years actice and successful fund management wouldn't make such claims and have had bad years in the past where their fund and clients lost money.
Well, he isn't just the run-of-the-mill mathematician that applies some maths to non-math problems. He did REAL, PURE mathematics on a world class level. The so-called Chern-Simons 3-form was later even recognized to be applicable to string theory by Edward Witten, and he called it Chern-Simons theory accordingly. All this is something COMPLETELY different from the applied math that is used at Renaissance, and on a much more sophisticated intellectual level.
Patrick, another fantastic video! Really enjoyed it. Some day, you could do a video on the historic short squeeze that happened on GME in the recent days. Institutions vs retail battle. Would love to hear your take on this squeeze and possibly similar ones that are memorable from history. Thank you!
Medallion is now capped at ten billion with only employee and founder money allowed. Medallion has the legendary and smaller secret sauce trades but... Renaissance Technologies has other funds (making larger trades) that are open to outsiders but they do not, after fees, beat reasonable benchmarks and one even folded.
Flashback humour - "Dentist's". Jack Schwager would be an excellent interview for Simmons. His story sounds like so many others, yet on a much longer timescale of overcoming adversity in trading and learning from mistakes. Seems like an almost commonality at times, most of these guys get put onto their knees at times before becoming extremely competent traders. Look forward to next week's video.
Fantastic biography, I love this page for 3 things things 1. Facts 2. Dry humour 3. clarity .I'm currently working on a Cognitive Psychology algorithm/formula that I intend to use in Speculating the markets. I hope it works one day and probably my biography will be as famous ,,a book titled 'The Man who solved Behavioral Trading' would be a great title😂😂
Great production of interesting material as usual Patrick. When I complete “The Smartest Guys in the Room” I will get the book you recommended. I also enjoyed “When Genius Failed was also a great book.
@@klam77 nope. Its more of a biography, but drops phrases like higher dimensional kernel regression. Rather a good read but dont expect to any secrets of simons
How he chose to buy a stock - simple - flicked a coin and head buys. In seriousness that is why many quant hedge funds prefer taking on a maths/physics PhD with no experience. They can train the finance element easy but is hard for a finance PhD to understand some complex maths needed.
Im not going argue with you about PHD , but you mean professional gambler at a firm that gamble with people’s money yes? Just correct your sentence. Regard to phd listen to warren buffet and charlie munger. I have no idea whats Joe investing. Im out of time GL
@@annajones9701 The "professional trader" buys from or sells to another "professional trader". So in average earnings of all the "professional traders" are the same as of the whole market (minus fees). You don't need to have PhD in math to understand that.
Thank you for continuing to provide first class content Patrick, and sharing your brilliant teachings and personal insights. As a newcomer to the world of investing I've learned and am learning so much to explore my own ideas.
This is the best if not the only one good promo of the Zukerman book.The author himself made bitter impression in WSJ article and his TV interviews of clueless media buzz
Very nice story, if I may I'd recommend a bit more visual storytelling since it's a video. For example a picture of the 'Murphy bed' (is that correct?) was really good. Good luck with the channel!
I want to be a member of your channel. I love the content. I learn way more from you than from people that just suggest this and that and say how great it is. I want to support it but then I have to give youtube all my personal info and I don't want that.
Lots of questions about whether these returns are genuine given his public fund has been underperforming significantly cf. to his medallion fund. Although, I would not necessarily agree with this view
Love the history recap, but one concept you kinda went over or skimped on was the methods for collecting. You mention how hard it was to collect data during those times which is why it was popular to trade off the news rather than trade quantitavely.
Hi Patrick, great video(s)! Enjoyed it, and appreciated it as usual. I have a question. What are your predictions for MBIA after the news came out , Credit Swisse have to pay them 690M(I believe Monday), on the court decision that came out 20.01.2021. Any SP in mind? I am in, obviously, however I never came across such s scenario for a company as this one, and am a bit lost as to what is to be expected SP wise. Thank you in advance!
Great Video Patrick. Could you make a video about Robert Mercer? I heard he became the Kingmaker of Donald Trump. What is your opinion on the tangles between politics and hedge funds? Or artificial intelligence / machine learning?
My trading strategies are built with his foundational principles. My account is always linear overtime and I like to think it's because of his teachings. He is one of, if not, the greatest trader to have ever lived.
Hey Patrick, could you make a video explaining whats exactly going on the GME stock right now? The relation between the retail investors and institutional one? And maybe how it will affect the future of investing?
Patrick, First of all I would like to say a big thank you for providing so useful Information. I have a question regarding this video. James Simons managed to beat the market for an extended period of time using statistical concepts and quantitative analysis. Do you think that this can be achieved again given the current market conditions? In other words, investing in the stock market has been a trend after the 2008 F.C. As a result, the number of retail investors has increased exponentially. Having that said, is it still possible to predict future results based on past events working with such a massive data set? If that's the case, do you think that this might go against the efficient market theory? Thanks again, GM
Thanks Patrick. I'm pleased that they were clever enough to be using some of the methods I use :-) (such as splitting up into parcels/tranches so as not to disturb the market unfavourably.)
Thanks to our growing list of Patreon Sponsors and Channel Members for supporting the channel. www.patreon.com/PatrickBoyleOnFinance Marc De Mesel, Annie Chen, Nate Stapleton,Timothy Baird,Cab1260, WIlam, Robertas, Hernan Merino, Random Encounter, Nieuwsbrief Ikwil, Bee Positive Consulting, hyunjung Kim, John Cadena, Ian Tracey, A Smith, Callum McLean, Oscar, Simon Pena, Alexander E F, Cyrus Yari, Ed, Pavle Obradovic, Erik Van Ekelenburg, David O'Connor, Zak Patterson, Ki Ryu Chan, Pjotr Bekkering, Drew, Ivaylo Kunev, Alex, Robert W Proudfoot, EatEmAll, Michael Boensel, pooh shmoo, Robert Muller, Andre Michel, Ivan Iliev, Gopaljee Atulya, Milan Tomic, Mark Hooker, Artem Vasenin, P H, Mathews Sebonego, Sebastian, Michal Lacko, Yann M, VicMR, Peter Bočan, Michael Pierce, V Jordan, Steve Kinnear, Gil, HalfwitHam, Mark Brophy, Patrick T, David Urdenata, Juan Valdez, Bruce Roberts, Chad Norman, Bruce Roberts, Shamikh Rana, Friday Guy, Marc De Mesel, Augusto Ramos, Soy Boomer Doomer, Bob Slartabartfast, Robert Feiler, Camil Dbouk, Erik Montesinos, Matthew Loos, Az Indragiri, Aman Bali, Lautaro Parada, Pratap, Deborah Joseph, Robin Sung, Kurt Johnston, Dominik Auerbach, gurmeet Kaushal, John Hall, Dara Mo and Josef Goergen,
Is there a reason as to why the Medallion fund doesn't increase its capital investment which is capped at 10 billion because they can achieve these monstrous returns at billions of dollars I'm sure there is enough liquidity in the market to where they could increase it to maybe even 30 billion or possibly more
Befor I watch the video, I have to say there are no secret Trading strategys. Everybody is trading on public information!
I think it was clever marketing getting him rich.
Hello Patrick, I hope I am not annoying you too much, but could you explain to me or in a video how $GME could be shorted >120% if naked shortselling is illegal?
@@SomeOne-wc9pr This
Have you considered a vid on the reddit wallstreet bets thing
Patrick , you do biographies very, very well.
Came here because of Brady at Numberphile. He did an hour long interview with him. Absolutely incredible.
It’s so hard to find a genuinely great financial channel on platform filled with swindlers and charlatans. You deserve way more subscribers. Can anyone recommend similar channels to Patrick’s ?
The Plain Bagel is a good channel similar to Patrick's
There's an nyu finance professor who also makes videos here on RUclips
Professor Aswath Damodaran
@@alex_6527 Thanks!
@@niobull2206 get reported
Patrick, you truly are an excellent educator. From the tone of your voice, to the rhythm of concise facts.
I am continually learning, and lucky to have come across your channel.
Thanks, for what you do.
This was interesting but I'd recommend instead of talking about "gains" I'd use the more technical term "tendies" and instead of "stocks" use "stonks" this will allow a broader audience to understand the material.
Yes, permanently change stocks to stonks.
Hahahaha
I am happy to find this channel. Sir, do not stop.
Wow, this guy explained himself very clearly that I didn't even have to pause the video, congrats and very interesting !!!
This was fantastic. A very enigmatic group, quietly moving markets out in the boonies of Long Island. Always been curious about this group, crazy this group had so much inner turmoil vs. the impression of a bunch of PhD math nerds quanting out and playing chess.
Whenever I hear that someone is beating the market I assume it's a ponzi scheme.
What's kind of wild is that a team of mathematicians failed for years, yet I know a few people who barely graduated highschool that were brilliant traders right off the bat. Markets are strange like that. This was a great video and I'm glad you covered the fact that it wasn't peaches and cream all the time for these guys. They struggled and failed for a long time. They fought amongst each other as well.
You are also a brilliant trader. And to celebrate your success you are here now with us on youtube and commenting.
For everyone else I hope you can differentiate yourself, a meantball with 200+ cognitive biases, and a sentient super-intelligence like a corporation with checks and balancess
Yeah, I doubt that.
OMG that clip of Bowie on Bing Crosby's Christmas special cracks me up every time, especially since you timed it to play when you said "moving with the times". Perfect.
Thanks Patrick you’re the best RUclips channel by far in this industry
Thanks Patrick, always look forward to another video from you.
Pat, your dry sense of humor and great financial information is truly S-teir! Your channel is a real 💎.
Love the book "Thinking Fast and Slow" that's next to you! Fantastic read.
Thanks!
Came here after my brother suggested. Grateful 🙏
Fascinating! Just ordered the book and thanks for the history lesson!
All the so-called financial "experts" portray themselves as James Simons, but only 0.01% have the smarts of James, and even fewer have the success.
Indeed. People need to be extremely wary of so-called financial experts and gurus. Most are outright fraudsters. If an investment fund or investment advisor says they can achieve consistent high annual returns, they're lying. Nobody can promise that. Even Warrent Buffet and the real professions with 50+ years actice and successful fund management wouldn't make such claims and have had bad years in the past where their fund and clients lost money.
You are a legend Mr Boyle! Keep up the good work!
This is a great man and as always a great video. Thank you for the knowledge!
Thank you for another informative video on the world of finance.
"Skipping the firs year of mathematics..."
Okay
"...at MIT"
:-O
Well, he isn't just the run-of-the-mill mathematician that applies some maths to non-math problems. He did REAL, PURE mathematics on a world class level. The so-called Chern-Simons 3-form was later even recognized to be applicable to string theory by Edward Witten, and he called it Chern-Simons theory accordingly. All this is something COMPLETELY different from the applied math that is used at Renaissance, and on a much more sophisticated intellectual level.
1.45 "You can teach someone how to do a job but, you cant teach them, to be smart" true
Patrick, another fantastic video! Really enjoyed it.
Some day, you could do a video on the historic short squeeze that happened on GME in the recent days. Institutions vs retail battle. Would love to hear your take on this squeeze and possibly similar ones that are memorable from history. Thank you!
Just put a video up yesterday on that.
@@PBoyle And I have already seen that in the morning ;) Thank you! Really enjoying the show!
Virtually no one beats the market consistently. And if they can, their information will be more expensive than you could afford to pay.
I see the briliance in Patricks brain.. no ähhh uhhh and things like that while he explains a complex subject.
Great series of videos!
"but they did" followed by that cheeky smile, cracks me up every time 18:37
Brilliant synopsis, i've alwayed wanted to know a bit more about James Simons and Renaissance technologies. Thank you Patrick.
I love his work and insight
Medallion is now capped at ten billion with only employee and founder money allowed.
Medallion has the legendary and smaller secret sauce trades but...
Renaissance Technologies has other funds (making larger trades) that are open to outsiders but they do not, after fees, beat reasonable benchmarks and one even folded.
Flashback humour - "Dentist's".
Jack Schwager would be an excellent interview for Simmons. His story sounds like so many others, yet on a much longer timescale of overcoming adversity in trading and learning from mistakes. Seems like an almost commonality at times, most of these guys get put onto their knees at times before becoming extremely competent traders.
Look forward to next week's video.
Thank you Patrick for the great content.
Fantastic biography, I love this page for 3 things things 1. Facts 2. Dry humour 3. clarity .I'm currently working on a Cognitive Psychology algorithm/formula that I intend to use in Speculating the markets. I hope it works one day and probably my biography will be as famous ,,a book titled 'The Man who solved Behavioral Trading' would be a great title😂😂
As always great value many thanks for this
Excellent video, mate! Thanks for posting.
This is the best bio of him that I've seen, thank you!!!
Great production of interesting material as usual Patrick. When I complete “The Smartest Guys in the Room” I will get the book you recommended. I also enjoyed “When Genius Failed was also a great book.
Fat fingers.
I highly recommend the book on Mr. Simons, “The Man Who Solved the Markets.” By Greg Zuckerman.
And, of course, you present the book at the end of the video... 🤦🏻♂️should’ve waited 😅
does it explain Simon's use of hidden markov model or such?
@@klam77 nope. Its more of a biography, but drops phrases like higher dimensional kernel regression.
Rather a good read but dont expect to any secrets of simons
@@shaunwee1773 thanks!
@@klam77 His model is trade secrets, but the book does drop hints on how he did it.
Academically delivered as always. Thank you!
How he chose to buy a stock - simple - flicked a coin and head buys. In seriousness that is why many quant hedge funds prefer taking on a maths/physics PhD with no experience. They can train the finance element easy but is hard for a finance PhD to understand some complex maths needed.
you dont need PHD and this amount of complexity to make money in stock market. read about John C. Bogle
and finish the headache
@@dariusashouri2439 that is for average Joe investing. Not a professional trader at a firm
Im not going argue with you about PHD , but you mean professional gambler at a firm that gamble with people’s money yes? Just correct your sentence. Regard to phd listen to warren buffet and charlie munger. I have no idea whats Joe investing. Im out of time GL
@@annajones9701 The "professional trader" buys from or sells to another "professional trader". So in average earnings of all the "professional traders" are the same as of the whole market (minus fees). You don't need to have PhD in math to understand that.
@@superdingo9741 professional traders screw the retail guys over. Institutional, quants, retail guys. ..
Many thanks Patrick, love this kind of videos.
Great vid! Thanks for putting that one together for us
Thank you for continuing to provide first class content Patrick, and sharing your brilliant teachings and personal insights. As a newcomer to the world of investing I've learned and am learning so much to explore my own ideas.
Love these kinds of videos. Thanks!
please keep making these videos we love it 👍
This is the best if not the only one good promo of the Zukerman book.The author himself made bitter impression in WSJ article and his TV interviews of clueless media buzz
Great story and you did a great job telling it
Wonderful presentation. Thank you!
Great video! Tons of info and interesting too! 👍
Great job as always Patrick
Profiting off cocky dentists' money. I love this fund even more now haha
Great Story, thanks for sharing.
Fantastic video, super clear explanation and especially, a story well told in a way that isn't exaggerated or clickbaity
Oh, now there's a black box I'd like to get a look at! (I know, I know, I'm not Robinson Crusoe!)
Thanks again for another interesting bio, Patrick.
Very nice story, if I may I'd recommend a bit more visual storytelling since it's a video. For example a picture of the 'Murphy bed' (is that correct?) was really good. Good luck with the channel!
will wait next Saturday for the next video, this is brilliant.
Cheers Patrick fantastic video
I want to be a member of your channel. I love the content. I learn way more from you than from people that just suggest this and that and say how great it is. I want to support it but then I have to give youtube all my personal info and I don't want that.
Excellent video!!!
as always, thanks for the good content.
Subscribed. Great content, great video Patrick .... Thanks mate!!!
Great video again . Loves from Turkey
Funny timing! I just started reading "The Man Who Solved The Market" last night. Love your videos!
Excellent video. Well rounded
Love the Bowie analogy.
Lots of questions about whether these returns are genuine given his public fund has been underperforming significantly cf. to his medallion fund.
Although, I would not necessarily agree with this view
Be born a genius in mathematics.
Got it.
Fascinating.
Thanks Patrick!
you are an inspiring man
Love the history recap, but one concept you kinda went over or skimped on was the methods for collecting. You mention how hard it was to collect data during those times which is why it was popular to trade off the news rather than trade quantitavely.
Great one!
Good video. Well done
Interesting video. I wasn't familiar with this fund.
Hi Patrick, great video(s)! Enjoyed it, and appreciated it as usual.
I have a question. What are your predictions for MBIA after the news came out , Credit Swisse have to pay them 690M(I believe Monday), on the court decision that came out 20.01.2021. Any SP in mind? I am in, obviously, however I never came across such s scenario for a company as this one, and am a bit lost as to what is to be expected SP wise.
Thank you in advance!
YOU GOTTA DO GAMESTOP PLEASE!!
Simons is the David Bowie of finance!🤣👍🍻
Before listening to this, my guess is his medallion fund front runs his other funds, helping drive his premier fund through the roof.
excellent video
needed this to detox after all that FTX hype and implosion
video setup is nice, maybe raise the camera
Make a video about gamestop shortselling cause this is gonna be legendary dude
It is uploading right now.
What you're describing on his hiring practices and the collaborative environment is very similar to Google's hiring and culture.
Thank you!
Who the heck gives this a thumbs down?!?
Robert Mercer made his Medallion Fund work.
Good bio. How about doing Robert Mercer? That would be interesting.
That’s an awesome presentation
his efforts are so far past competitors the results are unique - he did something different #models
I really appreciate Patrick
Thank You Boss
hello sir,
can you please suggest some good books and courses on time series analysis, how to develop a framework and build good models.
Look up Benjamin graham. He has a value investing book and I think one on models maybe
Great Video Patrick. Could you make a video about Robert Mercer? I heard he became the Kingmaker of Donald Trump. What is your opinion on the tangles between politics and hedge funds? Or artificial intelligence / machine learning?
Can anyone explain how you can take advantage of market inefficiencies when you are only holding a position for one day?
My trading strategies are built with his foundational principles. My account is always linear overtime and I like to think it's because of his teachings. He is one of, if not, the greatest trader to have ever lived.
Account being Linear meaning?
@@binaydhakal6179 Always profitable overtime
Hey Patrick, could you make a video explaining whats exactly going on the GME stock right now? The relation between the retail investors and institutional one? And maybe how it will affect the future of investing?
Patrick, First of all I would like to say a big thank you for providing so useful Information. I have a question regarding this video. James Simons managed to beat the market for an extended period of time using statistical concepts and quantitative analysis. Do you think that this can be achieved again given the current market conditions? In other words, investing in the stock market has been a trend after the 2008 F.C. As a result, the number of retail investors has increased exponentially. Having that said, is it still possible to predict future results based on past events working with such a massive data set? If that's the case, do you think that this might go against the efficient market theory? Thanks again, GM
ΠΑΜΕ ΛΙΓΟ ΡΕ ΡΑΣΙΟΝΑΛ ΑΛΑΝΙ 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
ΚΑΛΑ ΤΑ ΛΕΣ
Thanks Patrick. I'm pleased that they were clever enough to be using some of the methods I use :-) (such as splitting up into parcels/tranches so as not to disturb the market unfavourably.)
Explain you self xd
how does one determine their own cognitive biases? Is such a thing possible, even in theory? If one can't, is it possible to mitigate those biases?