I see no surprise that the quants will do much better than the discretionary managers. To collect small coins and small fruit nothing better than a machine.
if there is a crisis a new 2008 a big event a whale nothing better than a man with his eyes wide open.
Computers help quants cover more territory. “Diversification means that if you can apply the same idea in many places, as opposed to doing it in one place, you will get smoother returns,” says Ilmanen.
Institutional Investor
From The Mathmatical Investor
Majority of highest-earning hedge fund managers and traders are at quant firms
Here is a synopsis of the results:
| Manager |
Rank |
2017 earnings |
Company |
Type: Q* or D* |
| Jim Simons |
1 |
$1.6 B |
Renaissance Technologies Corp. |
Q |
| Michael Platt |
2 |
$1.2 B |
BlueCrest Capital Management |
D |
| Ray Dalio |
3 |
$870 M |
Bridgewater Associates |
Q |
| Ken Griffin |
4 |
$870 M |
Citadel LLC |
Q |
| John Overdeck |
5 |
$700 M |
Two Sigma Investments |
Q |
| David Siegel |
5 |
$700 M |
Two Sigma Investments |
Q |
| Israel Englander |
7 |
$500 M |
Millennium Management |
Q |
| Paul Tudor Jones II |
7 |
$500 M |
Tudor Investment Corporation |
D |
| David Shaw |
7 |
$500 M |
D.E. Shaw & Co., L.P. |
Q |
| Jeffrey Talpins |
7 |
$500 M |
Element Capital Management |
D |
| Carl Icahn |
11 |
$480 M |
Icahn Capital Management |
D |
| Chase Coleman III |
12 |
$450 M |
Tiger Global Management |
D |
| Alan Howard |
13 |
$300 M |
Brevan Howard Asset Management |
D |
| Crispin Oley |
14 |
$200 M |
Odey Asset Management |
D |
| Greg Jensen |
15 |
$150 M |
Bridgewater Associates |
Q |
| Peter Muller |
15 |
$150 M |
PDT Partners |
Q |
| Robert Prince |
15 |
$150 M |
Bridgewater Associates |
Q |
| Steven Schonfeld |
18 |
$130 M |
Schonfeld Group |
Q |
| Peter Brown |
19 |
$100 M |
Renaissance Technologies Corp. |
Q |
| Paul Singer |
19 |
$100 M |
Elliott Management |
D |
** Note: D (primarily discretionary) or Q (primarily quantitative) is often hard to determine and not clear-cut. We rely here on some outside commentaries.
If kids see their parents cutting corners or even cheating (god forbid) what is the use of sending kids to the best colleges. Just be a decent parent that is enough. If you have no money even better.
From The NYT:
Bribing SAT proctors. Fabricating students’ athletic credentials. Paying off college officials. The actions that some wealthy parents were charged with Tuesday — to secure their children a spot at elite colleges — are illegal and scandalous. But they’re part of a broader pattern, albeit on the extreme end of the continuum: parents’ willingness to do anything it takes to help their grown children succeed.
“If there is such a thing as good leadership, it is to give a good example. I have to do so for all the Ikea employees.”
“Children have never been very good at listening to their elders, but they have never failed to imitate them.”
From The Great BCA Research
Why IQ Matters
IQ has a long and contentious history. Yet, despite numerous efforts to jettison the concept, it
has endured for one simple reason: It has more predictive power than virtually anything else in
the psychological realm. A simple 30-minute IQ test can help predict future educational attainment,
job performance, income, health, criminality, and fertility choices IQ even predicts trader performance!!
From, Science Literacy Project
IQ is often dismissed as antiquated, misguided, or less important than personality traits. But according to
Stuart Ritchie, an intelligence researcher at the University of Edinburgh, there’s a massive amount of data showing that it’s one of the best predictors of someone’s longevity, health, and prosperity. And psychologists have been able to replicate these findings over and over
1) Most people have average intelligence.
…
2) Having a higher IQ protects you from death. This is an uncomfortable one: According to the research, people with high IQs tend to be healthier and live longer than the rest of us.
…
3) IQ is correlated with career success and wealth, but not necessarily happiness. Like mortality, the association between IQ and career success is positive.
despite this my experience is that
the most important thing to have success is to want badly to have success
“Your vision of where or who you want to be is the greatest asset you have. Without having a goal it’s difficult to score.”
― Paul Arden, It's Not How Good You Are, It's How Good You Want To Be
If you sleep enough you will have two side benefits
lose weight and make some more money......I love the phrase that skinniness and money are never too much well we can now work for both at the same time....................
Sleep loss appears to do two things:
- Makes you feel hungry even if you are full. Sleep loss has been shown to affect the secretion of cortisol, a hormone that regulates appetite. As a result, individuals who lose sleep may continue to feel hungry despite adequate food intake.
- Increases fat storage. Sleep loss may interfere with the body's ability to metabolize carbohydrates, which leads to high levels of blood sugar. Excess blood sugar promotes the overproduction of insulin, which can lead to the storage of body fat and insulin resistance, a critical step into the development of diabetes.
The key message: If you want to be an effective leader, and rise in the ranks, get enough sleep.
HBR
Fatigue makes cowards of us all
Vince Lombardi
Surprisingly, one group that doesn’t need to heed these warnings is executives. In our assessment of 35,000 leaders and interviews with 250 more, we found that the more senior a person’s role is, the more sleep they get.HBR
