Renaissance LLC, the investment firm founded by Jim Simons, started trading its new hedge fund on March 1 with $3.5 billion in assets, mostly employees’ money, according to two people familiar with the matter.
Renaissance Technologies LLC, the $20 billion investment firm founded by Jim Simons, is starting a new hedge fund, its first in five years, to trade stocks and futures, according to a document sent to potential investors.
John Allison, former chairman of bank holding company BB&T Corp., admires author Ayn Rand so much that he devised a strategy to spread her laissez-faire principles on U.S. campuses. Allison, working through the BB&T Charitable Foundation, gives schools grants of as much as $2 million if they agree to create a course on capitalism and make Rand’s masterwork, “Atlas Shrugged,” required reading.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
In 2009, Leon Rozenblit was ready to expand Prometheus Research from building databases for biomedical research departments at such universities as Harvard and Yale to energy and financial service businesses. Within a year and a half, he had burned through $1.5 million and laid off the five employees he had hired for the expansion, unable to penetrate Corporate America’s bureaucracies. “It was an expensive education,” he says.