Jame Harris Simons is one of the richest and successful brokers of America.He laid the foundation of Renaissance technologies which is one of the world’s biggest hedge fund companies.According to the latest statistics he is one of the richest Americans with the net worth of $ 14 billion.
Personal life and education
Jame Simon was born into a Jewish family with a very good business background.His father named Mathew Simons was a successful and shrewd businessman successfully running a shoe factory.he was te ole kid of his parents.James Simons spent his most of childhood time in brook line Massachusetts.He learned art of business from his father by seeing and working with him in his shoe factory.
James Simons got most of his education from Massachusetts.He done his bachelor in mathematics from Massachusetts institute of technology in the year 1958.After doing bachelor he went to California,where he done his PHD in mathematics from the university of California.At that time he was one of the brightest students of the PHD class in university of California.
After completing his PHD thesis in mathematics he started working with Shing shem chen on the theory of characteristic classics.They both discovered the Chem-Simons secondary characteristic classes of 3 manifolds.After laving that he started working with National Security Agency to break codes in the year 1964.He worked with this organization for one years and then joined research staff of the Communications Research Division of the Institute for Defense Analyses (IDA) and worked there for next four years.
In the year 1968 he joined the Stony Brook University as the chairman of the maths department.Then he joined IBM and worked wit it for some years on their some important technology related projects.
Renaissance technologies is one of the biggest hedge fund management company in the world.James Simons founded that company in the year 1982 with a limited fund.Now it is one of the top investment management companies of the country with assets of about $22 billion.Currently the company employees 275workers.The medallion fund product is the mot successful product of the company.It was started by the company in the year 1993.
Renaissance technologies mostly trades commodities,currency swaps,bonds and also stocks.In the year 2005 Renaissance technologies started a very useful fund by the name of Renaissance Institutional Equities Fund for the institutional investors.Te company uses computer simulated complex mathematical models to execute trade for its clients.
Achievements and awards
Following re the most important achievements made by the Jams Simons during is lifetime.
- James was declared as the financial engineer the year by International association of the financial engineers in 2006.
- James Simons earned $ 2.8 billion in the year 2007
- In the year 1994 James Simons and is wife opened a nonprofit organization for helping people in projects related to education and health.
- In 2011 James Simons was included in the list of most influential people of the Bloomberg markets magazine
James Simons is a shinning example for the people who really want to make their name in the field of mathematics and investment.He created a cult following for himself with sheer hard work throughout his lifetime.