Quant hedge fund Renaissance suffers steep losses in tariff tumult | Hacker News Reader

Quant hedge fund Renaissance suffers steep losses in tariff tumult

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May have second thoughts now.

https://www.forbes.com/sites/nathanvardi/2017/01/24/trumps-b...

These are not returns for the Medallion fund which is what most people think of when Renaissance is invoked.

https://archive.is/6cYCq

Other sources say 8% which is huge for Renaissance but probably not big enough to be a shoe dropping.

I will never understand why the rich people in the US let a man as stupid as Trump get to be so powerful and I am getting a lot of schadenfreude at watching him cause a stock market crash.

Their greed contributes to malignant normalcy. And so they refused to recognize he's a psychopath.

That led them to think it's all just a game for gamesmanship to figure him out. May the best gamer win!

But now they're wondering if he's nuts.

Neither Jan 6, nor ordering the national security apparatus to investigate how to annex Greenland were insane enough for them. But whoo boy double digit tariffs threatening people's reputations and wealth? That's crazy!

Now that there's a 90 day pause, they'll all say, see he's not insane after all! He really does get it! We don't look like complete idiots! Genius!

I feel the need to copy/paste a quote here:

“The President in particular is very much a figurehead — he wields no real power whatsoever. He is apparently chosen by the government, but the qualities he is required to display are not those of leadership but those of finely judged outrage. For this reason the President is always a controversial choice, always an infuriating but fascinating character. His job is not to wield power but to draw attention away from it. On those criteria Zaphod Beeblebrox is one of the most successful Presidents the Galaxy has ever had — he has already spent two of his ten presidential years in prison for fraud.” -- Douglas Adams, The Hitchhiker’s Guide to the Galaxy

Though to be frank, I'm not sure it applies here as Trump does not seem to not "wield[s] no real power". Still, I often have this quote in mind when I think of some current world leaders.

They thought Trump would be a useful idiot that they could control.

Nobody controlled him during first term. He kept firing all advisors and close folks on smallest whims.

Now its much worse, he got more senile, vengeful and he is surrounded by pure yes men, so progressively more and more out of touch with reality. Very similar path to putin whom he admires for whatever f*cked up reasons.

He admires Putin because as a Narcissist he doesn't understand why there should be any limits on his power.

They should have realized

1) how much damage he would do to their interests because he is so deeply stupid

2) He is so stupid and stubborn he is hard to control.

The rich letting Trump become President to get lower taxes is as irresponsible as hiring a mentally disable child molester to babysit your kids because he is cheap.

I thought hedge funds made gasquillions out of volatility.

Hedge funds are the equivalent of Crypto for suckers for rich people.

"Hedge Funds Have Charged Nearly $2 Trillion in Fees While (Mostly) Underperforming the Market" - https://www.tipranks.com/news/hedge-funds-have-charged-nearl...

Medallion is something so special it cannot be easily classified. Just one the last mysteries of modern civilization. Even the NSA had leaks but nothing ever about Medallion: https://www.cornell-capital.com/blog/2020/02/medallion-fund-...

As mentioned in this thread, the title is not about the Medallion returns.

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