By the summer of 2019, Renaissance’s Medallion fund had racked up average annual gains, before investor fees, of about 66 percent since 1988, and a return after fees of approximately 39 percent.
Seems the ratio of returns per and returns post fees should tell investors to still stay away...if only to push for better terms ;) but Thena again it’s been employee-only for a decade or more?
Then again, anyone who thinks they’ve got a secret investing sauce who doesn’t maximize their own return via that investment strategy...is selling something. So kinda makes sense to keep their best approach in-house. But I guess they needed outside investors for a few years for them to enrich themselves enough to maximize the fund’s performance for themselves.
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