It drives me crazy how these guys use the term "economics" here. It immediately makes me assume they have no idea what they're taking about. It's like when some kid does a TikTok about the Marine Corps, and pronounces the 'ps'. 🤦‍♂️

his strategy is to pay inflated price.

This information just isn’t true really odd short

Bernard is a Genius one of the greatest shrewd businessman out there

Bernard is paying to monopolize the luxury market

Once you have enough money, you can't fail, the myth of meritocracy

Summary: Medallian fund is avg hold is 1 day & in 2007 & 2008 they made 150% each year. As volatility increases their return increases, front running big funds. Either leaked info or able to detect it very clearly

Luxury Brands are great, they let you ID rich fools even before they speak.

i got contacted from today to work remotely 4 days but get paid in crypto? I haven’t finished training but something doesn’t sit right with me

This perspective is an example of the problem with modern economics. Things don't have to have massive growth to be successful. Consistency and stability are preferred to pump and dump in the long term.

you also neglect to mention costco's upper management is run by human beings and not deranged AI whose only goal is exponential growth. Having people who comprehend that exponential growth is both stupid and unattainable is the path to a good, stable company.

DO NOT START a company, guys. Let this guy monopolies the business.

Its more of a merge then being delisted

I got my law degree there.

People will remember elvis not Rihanna

Dudes are on the spectrum

The U.S. space program was actually ahead of the Soviet Union’s space program, but was held back, so the legal issues of satellites passing over nations was addressed with the Soviet Union’s Sputnik. The U.S. didn’t object and the Soviets were not able to complain about the U.S. Explorer satellite, so the Corona and following satellites got a “free pass” in the legal issue of overflying nations in Space. Games inside games. I wonder what games are still classified? => Hubble only used by NASA? Not quite. Open budget item was the transfer of two Hubble bodies, no sensors, no control systems were declared surplus by CIA and transferred to NASA. This occurred the year after NASA had the design for the replacement for Hubble (in the visual spectrum). There must be some reason the U.S. wants its enemies to know certain things. Wonder what they can see now, from space? => There was a threat based need for the SR-71. What if the Soviet/US war went hot, when we needed fast planes? Same for the F-35 and Aurora today. Just because our prayers for not needing weapons were granted doesn’t mean they were not wise to obtain.

00:02:00 Renaissance Technologies' secretive, high-performing nature. 00:02:06 Jim Simons' diverse background and unconventional approach. 00:02:17 Rentech's team of non-traditional hires for investment success. 00:02:24 Rentech's extreme secrecy and unique operational strategies. 00:02:39 Rentech's unparalleled annual returns and exclusivity for investors. 00:03:11 The key to Rentech's success hinted at towards the end. 00:05:19 Jim Simons' early life, education, and entrepreneurial ventures. 00:05:43 Jim Simons' transition from academia to the financial sector. 00:19:13 The innovative and collaborative culture at the Institute for Defense Analyses. 00:19:39 Codebreaking innovation attracts top talent. 00:19:59 Employees enjoy freedom for research and collaboration. 00:20:36 Early application of codebreaking tech to stock market. 00:21:27 Shift from fundamental to technical investing approaches. 00:22:59 Computational signal analysis parallels codebreaking principles. 00:23:51 Mathematical models and statistical analysis drive insights. 00:28:08 Foundation of modern AI rooted in statistical concepts. 00:28:17 Marov models predict future states based on observable patterns. 00:39:00 Transition from academia to trading sparks controversy. 00:40:11 Pursuit of higher calling in academia and finance. 00:40:38 Formation of monometric trading operation. 00:41:31 Recruitment of superstar mathematicians for trading. 00:43:31 Transition from manual to quantitative trading approaches. 00:50:29 Emphasis on fundamental analysis over model-based trading. 00:52:03 Venture capital diversification and trading strategy evolution. 00:52:50 Data collection advancements and model refinement. 00:58:11 Establishment of Medallion fund for quantitative trading. 01:01:13 Strategic adoption of ServiceNow platform for digital transformation. 01:01:21 Service management improvement greases the wheels for other departments. 01:01:54 ServiceNow's Enterprise software playbook revolutionizes IT services. 01:02:00 Expansion of ServiceNow platform to HR, CSM, and finance departments. 01:02:11 Integration of AI to elevate ServiceNow platform capabilities. 01:03:30 Importance of bet sizing and frequency in market prediction strategies. 01:03:38 Uncertainty and predictability challenges in long-term market forecasting. 01:04:37 Maximizing profitability through high-frequency trading and small bet sizes. 01:05:52 Market dynamics, transaction costs, and slippage considerations in trading strategies. 01:19:08 Transition to equities for scalability due to market depth and data availability. 01:21:29 Predictive text analysis for efficient word selection. 01:21:44 Importance of experience in building complex systems. 01:22:16 Equities market complexity demands advanced computational systems. 01:22:55 Algorithms identify patterns, not human intuition. 01:23:10 Implementing profitable trades based on discovered patterns. 01:23:37 Multivariate, multi-dimensional problem-solving in data analysis. 01:24:01 Efficient computer systems crucial for quick decision-making. 01:24:21 Interconnected nature of equities market adds layers of complexity. 01:25:30 Unifying models for all asset classes enhances insights and performance. 01:32:59 Medallion's exceptional performance in high volatility environments. 01:37:55 Sharp ratio as a measure of risk-adjusted returns. 01:40:24 Strategic adjustment of carried interest to reflect performance. 01:42:54 Medallion Fund's exceptional performance and unique strategies. 01:43:30 Strategic shift to exclude outside investors for fund optimization. 01:43:50 Launch of Renaissance Institutional Equities Fund to accommodate demand. 01:44:00 Exploration of more profitable strategies beyond Medallion's capacity. 01:45:29 Focus on creating a product with higher sharp ratio. 01:48:00 Comparison of Medallion's short-term trades to institutional fund's longer holds. 01:50:22 Medallion's unparalleled performance during financial crises showcases its strength. 01:59:47 Rentech's unique collaborative environment for all employees to contribute to the model. 02:01:37 Rentech's one-model architecture fosters collective improvement and shared success. 02:02:47 Small team dynamics and long employee tenure. 02:06:44 Unique lpgp fund structure with high carry. 02:13:33 Leveraging basket options for significant returns. 02:15:13 Tax-efficient strategies and legal challenges. 02:17:41 High revenue generation and operational costs. 02:21:49 Lifelong non-competes maintaining talent retention. 02:22:24 Process power through intricate system knowledge. 02:22:52 Social layer: working with smart individuals in impactful community. 02:24:46 Data as a cornered resource: historical market data advantage. 02:26:37 Continuous model reinvention every two years for optimization. 02:33:15 Signal processing mastery: trading on abstract relationships for profit. 02:35:07 Complex adaptive system understanding for market prediction edge. 02:40:20 Exploiting non-intuitive profitable trades from data-driven insights. 02:41:34 Rentech's unique approach to finance and value creation. 02:42:27 Hedge funds' distinction between fast and smart trading strategies. 02:43:46 Medallion's success in slow and smart trading quadrant. 02:45:02 Rentech's ability to disguise trades and maintain market neutrality. 02:45:20 Importance of risk controls and kill switches in quantitative finance. 02:47:01 Rentech's role as a "house" in the gambling business of finance. 02:49:47 The value of quantitative finance in providing market liquidity. 02:55:50 The potential challenges of evolving competition and talent flow. 02:57:47 The power of incentives and culture in driving performance at Rentech. 03:01:00 Announcement of Modern Treasury Transfer Event. 03:01:20 Introduction to TV show "The New Look" on Apple TV+. 03:01:39 Exploration of post-World War II fashion revolution. 03:02:23 Intriguing portrayal of Coco Chanel in the TV show. 03:03:17 Offer for Acquired listeners from Kohan president. 03:04:26 Class of Palm Beach Instagram and TikTok account. 03:06:25 Gratitude towards sources and contributors for the episode.

I've been on a Jensen deep dive of all the recent talks and pods... Already a fan but his poise, demeanor, sincerity and engagement with you too just sealed my respect for him.. Well done, what a fantastic episode.. Thank you!

Musk didn’t start space x. Musk didn’t start Tesla. Musk did not start PayPal. With out the money from tax payers Tesla and space x don’t exist. Get your nose out of musk booty.😎

They already shut down boring company

Wait until Apple starts making their own modem chips… Bye Qualcomm

7:10 Sacks is King 👑

Well, they could collateralise their ever in inflating stock price.

The brilliant strategy is to pay a lot of money for the private shares?

He doesn't start anything he does hostile takeovers

good take

This is shocking but I bookmarked this episode for a long time and today I decided to listen to it and coincidentally Jim Simons died today only. May he rest in peace.

I wonder how many Woodmans has. Probably really high.

And one buy one he will continue buying and ruining fashion brands for more profit

Aldi's figured this out a long time ago

Good for them!!!

Nobody needs 250 different types of sugar infested cereals

I never realized that cuz costco looks like it has a ton of stuff but their stock is very precise and they only sell their own Kirkland brand. I live in the costco headquarters city of Issaquah.

That's not Bernard Arnault lol

Bernard is a killer.

This is boring story but he made it fun. Actually it adds nothing to me but I liked how he laughed at the end like he won something. This man is gifted.

🎉❤🎉

Less available shares more volatility, either way…

Great job

Does she know she’s using a stream bot to stay on top 😂

I love COSTCO only.

Aldi operates same.

How does one achieve stock options in the company Nvidia

Walmart will Purposely bankrupt you by making you take out loans to fulfill product orders that they won’t pay for forever ! They are the definition of a evil corporation

Elons musk didnt "start" tesla it was founded by Martin Eberhard and Marc Tarpenning in 2003.

There seem to be a lot of failures at Amazon. If they were truly learning from their mistakes, they would have fewer failures with each new investment. It feels like they are throwing a lot of money at different projects, hoping that something will work. This approach is wasteful and inefficient.

Well then my Unreal coconut candy bars should not be stale 🥥 🍫

Amazing what you can get away with when you’re a monopolist with an army of lobbying muscle to prevent regulation

What he fails to mention is that Costco actually completes with Sam's club and Walmart and other stores. They keep prices lower than competition even if you are a member, and their incentives are NOT shareholder profits first. This is something a lot of people don't understand about companies and why they fail. You can still make money as a business and be a failure. Profit margins are not the be all sign of a businesses success. It's how well the customers of said business feel about the business. Tech companies like Microsoft are perfect examples of failure businesses. Profits over quality and their consumer base is getting tired of their shit.