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The Man Who Solved the Market

How Jim Simons Launched the Quant Revolution SHORTLISTED FOR THE FT & MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019

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The Man Who Solved the Market

By: Gregory Zuckerman
Narrated by: Will Damron
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Summary

Brought to you by Penguin.

SHORTLISTED FOR THE FT AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019

The first and fascinating look into the mind of Jim Simons, the shy billionaire who revolutionized Wall Street

Jim Simons is the greatest moneymaker in modern financial history. His record bests those of legendary investors, including Warren Buffett, George Soros and Ray Dalio. Yet Simons and his strategies are shrouded in mystery. The financial industry has long craved a look inside Simons's secretive hedge fund, Renaissance Technologies and veteran Wall Street Journal reporter Gregory Zuckerman delivers the goods.

After a legendary career as a mathematician and a stint breaking Soviet codes, Simons set out to conquer financial markets with a radical approach. Simons hired physicists, mathematicians and computer scientists - most of whom knew little about finance - to amass piles of data and build algorithms hunting for the deeply hidden patterns in global markets. Experts scoffed, but Simons and his colleagues became some of the richest in the world, their strategy of creating mathematical models and crunching data embraced by almost every industry today.

As Renaissance became a major player in the financial world, its executives began exerting influence on other areas. Simons became a major force in scientific research, education and Democratic politics, funding Hilary Clinton's presidential campaign. While senior executive Robert Mercer is more responsible than anyone else for the Trump presidency - he placed Steve Bannon in the campaign, funded Trump's victorious 2016 effort and backed alt-right publication Breitbart. Mercer also impacted the success of the Brexit campaign as he made significant investments in Cambridge Anatlytica. For all his prescience, Simons failed to anticipate how Mercer's activity would impact his firm and the world.

In this fast-paced narrative, Zuckerman examines how Simons launched a quantitative revolution on Wall Street, and reveals the impact that Simons, the quiet billionaire king of the quants, has had on worlds well beyond finance.
'Reads more like a delicious page-turning novel...Put it on your holiday gift list for your favourite hedge-fund honcho' Bloomberg

'A compelling read' Economist

'Captivating' New York Times book review

© Gregory Zuckerman 2019 (P) Penguin Audio 2019

Analysis & Strategy Business Investing & Trading Professionals & Academics Science & Technology Technology Banking Investing Thought-Provoking Feel-Good Mathematics Wall Street Software Stock
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Critic reviews

So compelling, filled with so many fascinating characters and new information... The book reads more like a delicious page-turning novel... Destined to become an instant classic...my nominee for financial book of the year
A terrific book, a terrific read... I recommend it highly... It's a hell of a story
Tells a surprisingly captivating story. It turns out that a firm like Renaissance, filled with nerdy academics trying to solve the market's secrets, is way more interesting than your typical greed-is-good hedge fund
Gregory Zuckerman lifts the lid on the most fascinating man in financial markets...superb reporting
Zuckerman brings the reader so close to the firm's inner workings that you can almost catch a whiff of the billionaire's Merit cigarette
A gripping biography of investment game changer Jim Simons... readers looking to understand how the economy got where it is should eat this up
Worthwhile reading for budding plutocrats and numerate investors alike
Zuckerman vividly tells the story of how Jim Simons and his team of scientists developed the most successful quantitative trading operation in history. . . . Immensely enjoyable
An extremely well-written and engaging book . . . a must read, and a fun one at that
Leave it to the Wall Street Journal's Greg Zuckerman to lay open the golden mysteries of quantitative investing. With this fine, humane, and eye-opening book, he's well and truly broken the code
All stars
Most relevant
As with other great books, you leave with many questions. The story is a mix between the life of Simons, and selected important people on his lifes way. I found this to be a great way to tell his story. Even tough some parts, fx. the involvement of a main charecter in US politics, became a bit too much.

I rate five stars, because the story and the way it is told is intriguing. Because the book is understandable, and wakes the desire to learn more about math, finance, Simons and his gang.

Enlightening

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A beautiful book full of financial insights, inspiring personal stories and political intrigue. The audio book is very well read with a pleasant voice

Beautifully written, balanced and informative

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Jim Simons is the father of quant trading and machine learning trading. His company, Renaissance Technologies, is one of the world's most successful hedge fund companies. Their flagship fund is the Medallion Fund. The fund returned an average of 66%/year which is mindblowing!
Very very good book with great insights into investment strategies and quant trading.

Thanks, Jim

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This has been the best book I read all year, it's historical yet engaging and at every point I didn't want to drop it . it mentioned challenges Simon faced, such challenges I can personally relate to and it also mentions the future of quant finance as a whole . This book is very relevant and I will definitely listen to this again.

As a Quant, I gained more insight ...

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Meticulously researched, fair, kind, Simons is treated with respect and admiration but with scrutiny. There are rich descriptions of those around him who come and go from his life and play such an important role in his success as well as detail around the markets and his competitors which put his achievements in context. As somebody who has been wrestling with maths and the markets most of my life I was moved to tears at times by the human side of this story. The inspiration of Simons’ persistence and humility is perhaps his greatest legacy. Generally very well narrated; I took one point off for repeated “Simons’s”which grated a little - would have preferred Simons’ for the possessive.

Loved this book, best finance book I’ve read in years

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