#108 Jim Simons (Money Printer)

What I learned from reading The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution by Gregory Zuckerman  ---- The story of the greatest moneymaker of all time [0:01] Simons prefers to move in silence [1:40] Unknown Unknowns > Known Knowns / Wise people always know exactly why something won’t work. That is why I never employ an expert in full bloom. —Henry Ford [2:42] A one word summary of the book: PERSISTENCE [4:15] Simons’ early life / Only the arrogant are self-confident enough to push their creative ideas on others. —Nolan Bushnell [4:44] Advice from his father: Do what you like in life, not what you feel you should do. [6:16] Personality: Jim had a persistent and burning desire to be wealthy [7:20] A seed has been planted + Jim’s existential crisis [9:55] Lessons from codebreaking that Jim applies to his business later [14:08] Jim Simons at 29 years of age: Fired, father of 3 young children, no idea what his future holds [20:00] Jim Simons at 33 years of age: Genius and madness are next-door neighbors [21:44] Jim Simons at 40 years of age: Jim finally makes the jump. Only misfits understand misfits [22:55] Jim’s first trading style [28:00] We all go through times like this: DON’T QUIT! [29:15] Jim Simons at 44 years of age / Jim’s partner doesn’t see the point in developing automated trading system / Giant success followed by giants failures [34:30] Back to being filled with self-doubt [37:15] Our mind loves playing tricks on us [38:00] Jim Simons studied the past to gain an information advantage [41:00] Finally, the new strategy starts working! / Even with wild success people will tell you that you are wrong [46:55] Business is like nature, it doesn’t care if you arrive at the right answer from the wrong reasoning. [52:50] Emperors want empires [57:02] Life advice from an 82 year old Jim Simons [1:02:40] ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to