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Renaissance Down 8.7% in August |
HenryTo
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Joined: 06 Aug 2004
Posts: 11742
Location: Los Angeles, California
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 Posted: Fri Aug 10, 2007 11:39 am Post subject: Renaissance Down 8.7% in August |
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| Just reported by CNBC earlier - not sure which strategy this is in, though. |
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Renaissance Down 8.7% in August Replies |
HenryTo
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Joined: 06 Aug 2004
Posts: 11742
Location: Los Angeles, California
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| Posted: Fri Aug 10, 2007 12:30 pm Post subject: |
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Bloomberg story:
http://www.bloomberg.com/apps/news?pid=20601087&sid=atlWKnI7gccw&refer=home
| Quote: | Renaissance Technologies Hedge Fund Declines 8.7% in August
By Katherine Burton
Aug. 10 (Bloomberg) -- James Simons's $29 billion Renaissance Institutional Equities Fund, which uses computer models to pick stocks, has fallen 8.7 percent so far in August.
The hedge fund, started two years ago, has declined 7.4 percent for the year.
``We have been caught in what appears to be a large wave of de-leveraging on the part of quantitative long/short hedge funds,'' Simons wrote in a note to investors yesterday.
Simons has one of the best records in the hedge-fund industry. His Medallion fund, which manages money only for Simons and his employees, has climbed at an average annual rate of more than 30 percent since 1988. The East Setauket, New York- based firm manages a total of $36.8 billion.
To contact the reporter on this story: Katherine Burton in New York at kburton@bloomberg.net
Last Updated: August 10, 2007 13:29 EDT |
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