"Jim Simons created the world's greatest money-making machine. To do so, Simons chose a different approach. A world-class mathematician and former codereaker, Simons had a hunch that financial markets ..."

"book that I'm going to talk to you about today, which is The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution and was written by Gregory Zuckerman. So, in addition to reading th..."

"saying uh later on in life about the self-belief that he had when he was a young man. He says, "I realize I might not be spectacular or the best, but I could do something good. I just had that confide..."

"was think. And most of the time he was thinking about math. And you also see that he has a very strong personality. He had this when he was a kid. And we'll also see that his wait till we get to what ..."

"he also had another obsession from early from an early age. And that was a an intense and persistent desire to get wealthy. And that's what spawns this interest in markets. So while he's in grad schoo..."

"years old at the time. It's over 17 years from this point in his life that he starts he he actually leaves academia uh and starts trading full-time. So I want to go back to this idea. I've already men..."

"understood at an early age that money is power. He did not want people to have power over him. Another person, this is again repeated across several people about Jim through the decades. Jim had this ..."

"this it? Am I going to do this in my whole life? There has to be more. Again, you see that this persistent and burning desire to be wealthy, it's already pulling on him, realizing if I stay on this pa..."

"worried about a potential power imbalance between Barbara and her selfassured fiance. Listen to what his mother-in-law, the advice that his mother-in-law gives to her daughter. Years later, he's going..."

"anything about Jim, they'll reference him as a mathematician and a codereaker. They're talking about this part of his life. Now, the reason I wanted to include this and tell you about this because thi..."

"room and I'll usually have an eye mask. He didn't have an eye mask. I'll put an eye mask and I'll put an earplug so I don't hear anything, right? And then all you do is sit there and just think. You h..."

"dissertation and you're waking up early in the morning and you're driving right all the way to to the Meil Lynch offices and you're trading commodities all day. So he has this idea. He's like okay is ..."

"realizing he's it's impossible to understand why the system is doing what it's doing, but I have to put my trust in the system. So it says for the majority of investors this was an unheard of approach..."

"when he builds Stony Brooks math department for 10 years and you realize, oh, he's doing the same thing over and over again. He's just changing the goal. So, we'll get there in a minute. This is reall..."

"stupid war, a bad use of our resources." And so he writes a letter to the editor of the New York Times protesting the Vietnam War. And then a he gives a an interview for a reporter at Newsweek and say..."

"department. So they hire Jim at 30 to build, they have a a large budget and they essentially give him a mandate to like build a worldclass math department. This is what I meant that he uses the same i..."

"low as 250 people all the way up to 410 people. That is not a massive company. And one of the way he does this is because it's so hard to get hired there. And then there's also low company turn low em..."

"go over later. But I'm going to introduce principle number two right now because this is directly related to what he's learning at Stonybrook, what he picked up on at the IDA as well. He says, "Surrou..."

"an organization is to hire the very best people you possibly can. I have good taste in people. There's this great New Yorker piece I'd highly recommend reading, but it talks about that Simons was an e..."

"every excuse for not producing. So that is later on in life. We're not there yet. At this point, he is still, this is the most fascinating thing about this cuz this guy's brilliant and yet even for so..."

"year. Why is he taking soatical? He wants to undergo primal therapy. Okay. Why? What is taking place inside your mind if you need to do this? Right? You and I can read between the lines here. So takes..."

"outsider. He's very comfortable trusting his own judgment. And he loved his dad. He admired his dad. He said his dad was a lovely man, but this is good that he didn't listen to his dad here. Isn't thi..."

"position. Mathematicians, this is why I keep talking about the importance of trusting your judgment. that the fact that he was an outsider. Everybody around him, right, mathematicians kind of look dow..."

"wasn't going to work, that it was low status, and that it was not important. Jim was a misfit. He was a rebel. He's an outsider, comfortable trusting his own judgment and the results of his own thinki..."

"just copying somebody by default if you are copying somebody you're admitting that you're already losing. It takes so much courage to do what Jim is doing at this point in his life. This is an excelle..."