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James Harris Simons, founder of Renaissance Technologies, was a pioneer of quantitative investing (QI) across asset classes. While he was less famous than some of his peers like Charlie Munger and Warren Buffett, he was equally, if not more, successful in investing, outperforming markets with an amazing level of consistency. The popular statistic floating around is that $1,000 in his signature Medallion Fund — known for its consistent gains and only accessible to Renaissance's owners and employees — in 1988 would be worth $42 mn today, compared to $40,000 if invested in S&P 500 and $1,52,000 in Berkshire Hathaway shares over the same period. Today, Renaissance manages $106 bn in assets. As estimated by Forbes, Simons' net worth equates to $31 bn. Simons was a leading philanthropist who gave away billions during his lifetime to support medical and science research and teaching. His journey had been exciting and intriguing. A maths genius, he was only 23 when he received his PhD from the University of California, Berkeley. Subsequently, aside from teaching at prestigious universities, he worked as a breaker of Soviet codes at the Institute for Defense Analyses, a position he held until he had divergent views on the Vietnam War.

There is a lot of uncertainty for the average Canadian these days, including trying to navigate a complex macro-economic environment that is already starting to have a material impact on their overall financial well-being.

By Ruchir Sharma

Pakistan-occupied Kashmir as the total strike against high prices of wheat flour and inflated electricity bills and taxes entered its fourth day on Monday, forcing the Pakistan government to allocate Rs 23 billion for immediate release to the region to quell a simmering unrest. The disputed region witnessed clashes on Saturday between the police and activists of a rights movement, leaving at least one police officer dead and injuring over 100 people, mostly policemen. A complete strike has also been observed in the territory since Friday, bringing life to a halt.

₹2,518 crore for FY24, up 61.8% on year, on the back of robust growth in its loan portfolio and a rise in net interest income (NII). The Mumbai-headquartered financial institution, which finances, facilitates and promotes India's international trade, said its total business for FY24 stood at ₹3.4 trillion, up 17.8% annually.

Gold and silver prices today on 13-05-2024: Check latest rates in your city Gold prices are seen trading slightly lower today amid profit-booking and weighed by a stronger U.S. dollar, as focus turns on the U.S.

Sensex rose 111.66 points, or 0.15%, to end at 72,776.13, while the Nifty 50 settled 48.85 points, or 0.22%, higher at 22,104.05. The Nifty index opened flattish on May 13 and after the fall in the early session, it saw a decent recovery and recouped all its intraday losses. The Bank Nifty index ended its eight-day losing streak and jumped 333 points to close at 47,754.

LONDON — The boss of U.K. stock trading service Freetrade is stepping down and leaving the company with immediate effect, the company told CNBC exclusively Monday.

Wall Street today: US stocks rise as investors eye inflation data “That he is able to generate a crowd says that the crowd is back to feeling FOMO and YOLO in an enormous way. When people dive into things that are of pure speculative value, their confidence is extremely high and this is one of the ways that it manifests," Peter Atwater, president of Financial Insyghts and an adjunct professor at William & Mary and the University of Delaware, was quoted as saying by Bloomberg. GameStop surged in a three-week rally leading up to Monday's spike, marking its longest winning streak of the year, with shares climbing 68% during that period.

Madhya Pradesh, 55.90 per cent in Bihar, 63.37 per cent in Jharkhand, 52.75 per cent in Maharashtra, 57.88 per cent in Uttar Pradesh, etc. 1. After witnessing a drop in the first three phases of the Lok Sabha elections in 2024, the Election Commission of India (ECI) expects to improve the voting turnout in the subsequent phases.

Shares of videogame retailer GameStop jumped more than 50 per cent in early trading on Monday after “Roaring Kitty,” a former marketer at an insurance firm credited with sparking the 2021 meme stock rally, returned to X.com after a three-year hiatus from social media.

According to a stock exchange notice on Friday (10 May), Elliott's stake has been reduced to below 5%. The sale took place on Wednesday (8 May), the same day Scottish Mortgage bought back £313m of its shares, the largest one-day purchase by a UK investment company on record. In March this year, SMT revealed it would make at least £1bn available over the next two years for the purposes of buybacks. Commercial director Stewart Heggie said Wednesday's buyback «should be seen in the context of that announcement».  «The board and managers remain resolutely committed to facilitating trading...

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Former President Donald Trump rewrote the consensus on trade policy, so much so that President Biden largely copied it: Prioritize domestic manufacturing, deprioritize trade deals, sideline the World Trade Organization and embrace tariffs. Other than Trump himself, no one did more to refashion that consensus than his trade ambassador, Robert Lighthizer. He has unfinished business.

Stock market crash: In May, FPI selling in the cash market has been relentless. FPIs have been sellers on every trading day and have sold equity for ₹24,975 crores. This has contributed to the underperformance of the Indian market.

Money managers are digging in their heels over a popular emerging-market bet in early 2024 even as the trade has unraveled five months into the year. 

Domestic benchmark index NSE Nifty ended 48.85 points up at 22104.05, while the BSE Sensex closed 111.66 points up at 72776.13.

Shares of Coforge Ltd.(up 1.56 per cent), Tata Consultancy Services Ltd.(up 1.39 per cent), L&T Technology Services Ltd.(up 1.26 per cent), MphasiS Ltd.(up 1.06 per cent) and Persistent Systems Ltd.(up 0.88 per cent) ended the day as top gainers in the pack.

Exciting news is coming for the cryptocurrency market as $GTAI, a token of GT Protocol, is preparing to get listed on a new CEX in just 2 days. After its successful debut on top platforms like Bybit, Kucoin, Gate.io, MEXC, HTX, and Bitget, $GTAI has emerged as one of the most promising token launches of 2024.

₹14.47 crore from the primary market. Piotex Industries IPO is an SME IPO and a fixed price issue. Also Read: Silkflex Polymers IPO allotment likely to be out today. Latest GMP, steps to check status Let us check Piotex Industries IPO GMP, subscription status and other key details.

By Rahul Pandey