The man who solved the markets pdf

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The man who solved the markets pdf

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• Book Name: The man who solved the markets
• Authors: Gregory Zuckerman
• Pages: 384
• Genre: Biography
• Publish Date: 5 November 2019
• Language: English

Book Review:

 

The man who solved the market by Gregory Zuckerman Gregory Zuckerman has written other books about oil fracking and also about the financial crisis I want to read this book 

because I read about the company Renaissance technologies in life after Google where George Gilder discusses Renaissance technologies and how their algorithmic trading 

how Robert Mercer in this in Renaissance technology came up with an investment strategy that doesn't really contribute anything to the economy and he made made it seem like Robert Mercer was like at the head of Renaissance technologies 

but it's really Jim Simons that founded it and built it up and that's what this book is about his Renaissance Technologies and Jim Simons and the subtitle is Jim Simon's the person that founded rests almost technologies and this book might not be like self-help 

but I thought we can take a look at it because I'm into financial independence in the stock market so and the story here is very unique so there's things that can definitely take away from this book 

so the book was gonna be more about like Jim Simons and Robert Mercer did like how they found each other but it was more like Jim Simon's from beginning to end and like every little story from like 

when he was in college onwards and the first part of this book is like really tearing tedious talks about Ali I mean obviously Jim Simon was fascinated by math and it talks about his whole matter 

he was into geometry and he was like very good at geometry and he could have been a professor I mean he was a professor but he could have been that for like the rest of his life 

but he got caught up in these other things like he got caught up in gambling I mean he didn't get caught up and he enjoyed gambling and from that 

he enjoyed the money and from that, he wanted to find a way to solve the markets and there are a lot of people that aren't hitting Kuan trading that is the same way and they all kind of go on the same path like you're very smart 

you want to use that smarts to make money naturally turn to gambling gambling is hard to like be really good at because there's casinos and things like that or in the market you can just flood the market with and not many people will bat an eye at it 

so it's boy bigger scale than just gambling and like in this whole gambling part in the beginning in the book we're to talk a little bit about gambling talk about Edward Thorp who's like also one of the first quant traders and like how that influences a lot of the quad traders 

because he was a view as a mathematician as well and they also talked briefly about Claude Shannon and information theory and Claude Shannon is kind of central to George guilders theories of the world about information theory and like entropy and now entropy changes the world 

its entropic events that change the world is not like government funding it's not government regulation it's people that have startups that have massive ideas and I agree with that 

I think Jim Simon's can be viewed in that context a little bit because he came up with like a new concept of like that the market could be solved and he worked tediously to do that and that's what this book 

highlights it highlights like how long of a journey and even this book even though this book is can be boring when it talks about like every single person in his life eventually 

it shows you like how determined he was because you as you make it through the all these characters in his life you realize like he didn't stop believing that he could solve the market it like sometimes 

it book like develop a character for chapters on end and then that person will just leave and that's like something I didn't like about the book was like you just invest in all like learning about these tons of characters in the beginning in the book 

by the end there's only like a couple left book also provides like a ton of information about like their strategies I mean it doesn't give you specific strategies 

but it gives you like the things that they used can like their data modeling and their data science and if you've done anything in the data world then like you some of it'll be familiar they used stochastic models linear regression models kernel models gann analysis which is like a type of technical analysis 

they use pears trading when they're doing their trades and like that's how they first got started in equity investing so there's like a lot of that information in this book

as well and it provides you like a lot of other quad perms - okay so I'm looking at those like de Shaw but I think it's very interesting like it provides good information 

if you want to like look into this or look into a career in quant writing or algorithmic trading and there's like resources on the web like I found some trainings on Windows 

if you wanted to like learn the basics of algorithmic trading and like the program you need to learn but this book is like pretty cool all the information has and it really highlights the important of like learning math and coding and like how powerful 

it can be if you learn those two things and like take them to their to their fullest and the book has like a little bit of drama in it like there's some traders that try and steal Jim Simon's information 

but he ends up suing them in a little bit of money but like these guys are really intuitive because if you if you read book about how like the financial markets people always do something well 

then they steal their ideas or take advantage of it and that happened to them when they are trading commodities but then they saw what people were doing and they like came up with strategies to like overcome that 

to like send fake signals and like same things with their when they were algorithmic trading they had to do the same thing Jim Simon started this like in the 70s so to think that from that point on he like came up with this idea 

they even have the computing power that they have today these guys are probably consuming tons of data and just combing through that today but to start from the 70s with all that it's like truly powerful and like one of the biggest lessons to me from 

this book is like don't give up on your dream especially if you like to believe in it because Jim Simon's from like day one when he started this like believe that he was gonna find out find a way to solve the markets and like 

so many people along the way discouraged him and told him to give up and he never did like his firm did really well in commodities there's a big part about the book about how there were very successful commodities but then they wanted to get into stocks 

it was they just couldn't figure it out and it ended up like being like a couple lines of code that screwed them up but it wasn't just Jim Simon's doing that it was his belief and his team 

he hired the smartest people and I felt like that's something the book could have done a little better job of he's like highlighting the management principles that kept these people together people came in and out 

but like Jim Simon's Robert Mercer and the central management team were like stayed together or like were able to build this together and like how they successfully did that without major flaws and all that without huge King some without splitting apart and destroying everything like 

so many stories we see in the media like it would have been it would have been good to get more information about that because the book kind of makes everybody seen quirky and then it was just happenstance that they all stuck together 

but I think there's something more about that there but this book really highlights how if you stick to your purpose of like of something you believe in and you just work on it every day you can really achieve it and especially 

if you build a really strong team and you keep that team together and like you use people to build a common good then you can really build something great 

I think I learned is that Renaissance technologies best fund is really one just like only four employees and I think that's very unique because it keeps their size to a limited amount and it allows them to be a little bit more nimble in the markets 

where most funds get really really big and yet up having losses because it's just too much capital for them to manage and then like the whole end of the book is about Robert Mercer and his involvement in like the Trump campaign and like 

how he owned part of Breitbart and Cambridge analytical and it really doesn't get too much into the specifics of like the data used by the kam bridge Cambridge analytical but it seems like maybe Robert Mercer might have helped out a little bit

but it doesn't really talk about that in this book but like if these guys saw the market with like all these algorithms I can only imagine if they deployed that for like political or social media purposes like it 

would be insane but I mean who knows maybe they'll do that in future elections so it's like these guys to me are like some of the smartest people on the planet they're focused on the equity markets 

but like they could really use like their data background and their math backgrounds to like solve a lot more problems and I guess that's George guilders point and life Africa Google is like these guys are some of the smartest people on the planet and like they could probably use their brains for to help more people 

but I mean I think they're already helping a lot of people they give a lot of money away dinner day like the court thing I liked about this book was that I was really amazed by Jim Simon's dedication to trying to solve the markets like that was his number one purpose 

there's like a million times he could have given up like in multiple crashes that happened the market 1987 the.com crash the financial crisis like really given up but he just kept going 

he was he's basically built the best performing hedge fund slash quant fund there is 

so if you're interested in like financial markets or data science or algorithms then I really recommend this book there's a lot of good information here the beginning of the book can be very tedious.

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