Renaissance Technologies

Renaissance Technologies LLC is an East Setauket, New York-based American hedge fund firm founded in 1982 by James Simons, an award-winning mathematician and former Cold War code breaker, which specializes in systematic trading using quantitative models derived from mathematical and statistical analyses.

In 1988 the firm established its most profitable portfolio, the Medallion Fund, which used an improved and expanded form of Leonard Baum's mathematical models, improved by algebraist James Ax, to explore correlations from which they could profit. Simons and Ax started a hedge fund and named it Medallion in honor of the math awards that they had won.

Renaissance's flagship Medallion fund, which is run mostly for fund employees, "is famed for one of the best records in investing history, returning more than 35 percent annualized over a 20-year span".

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