Which is the best app for someone who doesn’t know anything about investing?

[karlmarx]

Hi Karlmarx! Good to see your post!

Just to side track that Rentech's Medallion is an Enigma... the open fund run by Rentech actually didn't do as well which they explained it by saying it's different strategy

Just some simple maths:

    "Since 1988, his flagship Medallion fund has generated average annual returns of 66% before charging hefty investor fees—39% after fees—racking up trading gains of more than $100 billion. No one in the investment world comes close. Warren Buffett, George Soros, Peter Lynch, Steve Cohen, and Ray Dalio all fall short."
    — ‘The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution’ by Gregory Zuckerman 2019

Let's just conservatively say he made this $100b and withdrew the capital. Every year they made money but 2020 alone they made whopping 76% ie $76b. Simplistically their current perf fee of 44% would have netted them conservatively $77.4b past 30 years. And I'm being very conservative without including any capital. I'm not sure I heard of many ultra-rich RenTech employees except the big man himself. But at this compounded rate the big man would be the richest guy on earth within 10 years conservatively.

Let's see. I wouldn't invest in such scheme unless I get a 44% payout of the profit every year as well

https://en.wikipedia.org/wiki/Renaissance_Technologies
https://www.efinancialcareers.sg/news/fi...chnologies

Good to see you too Specuvestor! I was told I've been missed. 

My recollection from the book by Gregory Zuckerman is that the Medallion Fund's returns are high, but its strategies are not (yet) scalable. The open fund operates in more liquid markets/instruments to be able to deploy massive capital, but the returns are far from the Medallion. So while the annual returns from Medallion may be spectacular, I think WB is still unmatched in terms of compounding returns.

Also mentioned in the book is that the prize of being an RT employee is the opportunity to invest in the Medallion. Since the beginning of his career, Jim Simmons has been sharing the spoils with highly talented people who are able to boost the fund returns.

In another thread where gambling is discussed, it should also be noted that there are also individuals who have excelled at gambling. Edward Thorp not only counted cards in blackjack, he also calculated the speed and time of a roulette ball during its spin! Thorp's methods appealed to him because he was both a mathematician and a physicist. 

With regards to fundamental and technical investing, my own unchanging view is that it looks easy only because the concept being sold to the public is way too simplified. WB may perhaps be the biggest perpetuator of such a view (and I am just as much a victim to this seduction).

He likes to present students with a scenario to pretend that they can own a stake of their top 3 classmates earnings, and asks them who they will choose. In case the lesson flies over the head of investors; this is what you do when you are investing.

But what is apparent to the students, but much less so to investors, is that the students know their classmates very well. Meanwhile investors most of the time not only do not know their target companies intimately, they also do not know who their target companies are competing with. So there's no way the investor can make a wise choice, until he/she has seen all the companies (students) in the same market (classroom).