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The Man Who Solved the Market
The Man Who Solved the Market
Oct 28, 2024 10:23 AM

Author:Gregory Zuckerman,Will Damron

The Man Who Solved the Market

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

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

—— Barry Ritholtz, Bloomberg

A terrific book, a terrific read... I recommend it highly... It's a hell of a story

—— Lou Dobbs, Tonight, Fox News

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

—— Joe Nocera, New York Times

Gregory Zuckerman lifts the lid on the most fascinating man in financial markets...superb reporting

—— Robin Wigglesworth, Financial Times

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

—— Brandon Kochkodin, Bloomberg

A gripping biography of investment game changer Jim Simons... readers looking to understand how the economy got where it is should eat this up

—— Publishers Weekly

Worthwhile reading for budding plutocrats and numerate investors alike

—— Kirkus

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

—— Edward O. Thorp, author of A Man for All Markets

An extremely well-written and engaging book . . . a must read, and a fun one at that

—— Mohamed A. El-Erian, author of The Only Game in Town

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

—— James Grant, Grant’s Interest Rate Observer

The fascinating, page-turning tale of a complicated man and the movement he started, rendered in accessible prose and full of bravura storytelling

—— Gary Shteyngart, author of Lake Success

One of Inc.com's Top 20 Business and Leadership Books of the Year 2019

—— Inc.com

A compelling read

—— the Economist

A fascinating, sometimes hair-raising new book . . . A book which on the one hand tells us some really important things about the nature of money, power and the nature of the modern economy, but on the other is just full of some of the most fascinating stories.

—— Matthew Taylor , RSA Bridges to the Future

The captivating stories of the powerful commodity traders and mystery actors of markets and geopolitics

—— Roula Khalaf, FT Editor-in-Chief - Summer Books 2021 , Financial Times

The blistering tale of a clutch of hard-charging international commodity trading houses such as Cargill and Glencore. The authors, both former FT journalists, trace how they harnessed the commodity boom and the setbacks they now face as climate change casts a shadow over their business model.

—— Andrew Hill, FT & McKinsey Business Book of the Year Award Longlist , Financial Times

A very impressive profile of an industry that has long preferred to avoid the spotlight . . . The authors deftly weave stories of the individual traders and their trades with an account of the major shifts in the global economy of the past 70 years . . . Extensively researched and well written throughout . . . I would not hesitate to recommend this book.

—— International Affairs

A thriller . . . An engaging story of secret deals and embargo-evasion.

—— Forbes

An entertaining history of the rise of the international trading houses and the charismatic, freewheeling risk-takers who headed them.

—— Books of the Year , Financial Times

The story of how a few commodity-trading firms quietly reconfigured the world economy, making fortunes, juggling embargoes and swaying geopolitics.

—— Books of the Year , Economist

There was no single, dominant, astonishing voice in the wilderness in the debate on the credit crunch, but... Edward Chancellor, an economic historian, foresaw almost everything.

—— Charles Moore , Daily Telegraph
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