By the way, there is a new book on Jim Simons, "The Man Who Solved the Market".
Simons actualy did did what Armstrong is saying he did.
"Simons built a computer model capable of digesting torrents of data and selecting ideal trades, a scientific and systematic approach partly aimed at removing emotion from the investment process.
Since 1988, Renaissance's signature Medallion fund has generated average annual returns of 66 percent. The firm has earned profits of more than $100 billion; Simons is worth twenty-three billion dollars."
...Compare this with Armstrong
Simons actualy did did what Armstrong is saying he did.
"Simons built a computer model capable of digesting torrents of data and selecting ideal trades, a scientific and systematic approach partly aimed at removing emotion from the investment process.
Since 1988, Renaissance's signature Medallion fund has generated average annual returns of 66 percent. The firm has earned profits of more than $100 billion; Simons is worth twenty-three billion dollars."
...Compare this with Armstrong