Renaissance hedge fund digs into gold
James Simons addresses a gathering at the new Simons Center for Geometry and Physics at Stony Brook University. The building was started by a gift from the James and Marilyn Simons Foundation. (Oct. 26, 2010) Credit: John Dunn
Gold is still good, for now, at the East Setauket-based hedge fund Renaissance Technologies, says Forbes magazine blogger Agustino Fontevecchia.
The blogger takes a look at the big hedge funds' quarterly disclosures and finds that Renaissance, founded by former Stony Brook University mathematician James Simons, is continuing to favor gold. (Not all big hedge funds are doing so -- notably George Soros's recent sell-off of 99 percent of his gold investments.)
Renaissance Technologies ranks #19 among the world's largest hedge funds, with $17.1 billion under management, Bloomberg News reports.
"Simon’s quant hedge fund. Renaissance Technologies, favored miners... opening a $48.4 million position in Goldcorp and adding to holdings of Barrick Gold," the Forbes blog says.
Photo shows Simons.
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