Listen & Discuss – Renaissance Technologies by Acquired

During this meetup we're taking a break from our usual reading focus and will discuss Acquired's podcast episode on Renaissance Technologies (about a 3-hour listen on 1x speed).

https://www.acquired.fm/episodes/renaissance-technologies

"The Complete History & Strategy of Renaissance Technologies

Renaissance Technologies is the best performing investment firm of all time. And yet no one at RenTec would consider themselves an 'investor', at least in any traditional sense of the word. It’d rather be more accurate to call them scientists — scientists who’ve discovered a system of math, computers and artificial intelligence that has evolved into the greatest money making machine the world has ever seen. And boy does it work: RenTec’s alchemic colossus has posted annual returns in the firm’s flagship Medallion Fund of 68% gross and 40% net over the past 34 years, while never once losing money. (For those keeping track at home, $1,000 invested in Medallion in 1988 would have compounded to $46.5B today… if you’d been allowed to keep it in.) Tune in for an incredible story of the small group of rebel mathematicians who didn’t just beat the market, but in the words of author Greg Zuckerman 'solved it.'"

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Some more general notes about the book club:

• We rotate through different types of books, with some covering historical or current events and others more along the lines of practical advice about how to do something.
• No specific ideas are necessarily endorsed – we try to read a variety of topics to expose ourselves to new ideas and ways of thinking.
• We try to grab the room to the back-right of Fortnight Brewing Company's main inside seating area (coming in the door on the front of the building, facing Maynard Road), but will get a table nearby if the room isn't available.
• No worries about coming in mid-discussion ― we usually manage to get off-topic anyways ― and feel free to come even if you didn't manage to finish the book. Also, no shame if you listen to it on Audible!