The Making of the World’s Greatest Investor

www.wsj.com

Jim Simons was a middle-aged mathematician in a strip mall who knew little about finance. He had to overcome his own doubts to turn Wall Street on its head. This excerpt from an upcoming book about Simons is a tremendous read about the "overnight" success (see: 40+ years) of Medallion, arguably the most successful investment firm of all time. We are often tempted to believe a company's journey, whether a startup, fund or otherwise, follows the post-hoc narrative. The reality is businesses don't just go up and to the right from day one. It's important (more so, in my view) to recognize the failure as much as the success.

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