Jim Simons Speaks: Just No to Google and Goldman Sachs

Among the more reclusive of his ilk, mathematician Jim Simons, the math Ph.D. and founder of Renaissance Capital, doesn’t speak often, so it’s generally worth a watch/listen when he does. While he’s now retired and mostly talking up his current interests, there are tidbits in this recent MIT speech. I’m particularly fond of his argument that we need to put more money into teaching so not as many people drift off to “Google or Goldman Sachs”. [-]

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Comments

  1. GAH says:

    It's ironic that guys like Simons and Soros, "free marketeers" who got rich on pure speculation, wax maudlin in their old age. "Do as I say, not as I do," more coarsely translates to "I got mine, now let's tax yours." Come off it. People who work at Google and Goldman require top-notch educations, creating an incentive for individuals to study. At the very least, these hypocrites should focus on pro athletes or Hollywood actors making millions of dollars, professions that don't require education and therefore create no incentive for it. More appropriately, they should stick to fleecing retail investors and central banks, and keep their bizarre left-wing plutocratic politics to themselves.

  2. cheburashka says:

    why did simons close the fund to outside investors?

    • ChaChingggg says:

      because they (the people in the company and himself) realised they had a sure fire winner and didnt need outsiders enjoying the spoils.

  3. Guest says:

    What a nonsense comment. First, this man just might be one of the top 10 all time mathematicians to walk the planet. The classic Wharton school graduate that becomes involved in the IB universe has a purely internal locus of control and care only about the effect on their domain. As example of this is the globalized outsourcing that Wharton endlessly touted as a boon, yet failed to see the macro-economic damage it would play in the overall US. This disposition highly accelerated US structural unemployment which now is in a crisis stage. Millions (let me type that again MILLIONS) of 40 to 60 somethings are now unemployable and roaming the perverbial streets and will be nothing but a burden on the overall masses. His point is twofold … the Goldman example I've just given, and the Google example summed up is that a "Google" company employees very few humans for each dollar of revenue they generate, which does not help the employment issue I've previously mentioned.

  4. adrey-Okounkovski says:

    Jim: "we need teachers… of high school mathematics", "pay these folks more."
    Me: Why don't you go do it? Why didn't you do it when you were at my age?
    Jim: Ha ha, ya taking abt my pure hypocrisy talk? "The last time I got fired, by the way", I learnt my lesson: Be your own boss! Make lots of money!