
Renaissance hedge fund loses 20% this year - chirau
https://www.marketwatch.com/story/renaissance-technologies-one-of-the-worlds-best-known-hedge-funds-extends-recent-run-of-poor-performance-2020-06-13
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smabie
Thinking at first this was the Medallion fund, I thought a 20% loss would be
unthinkable. But it's just their RIDA fund. Actually, it appears that their
Medallion fund is was up 24% since start of year to April:
[https://www.institutionalinvestor.com/article/b1l98yt4p0bvr4...](https://www.institutionalinvestor.com/article/b1l98yt4p0bvr4/The-
Famed-Medallion-Fund-Is-Crushing-It-Other-RenTech-Funds-Not-So-Much).

It's pretty surprising that RIDA has dropped 20% since start of year,
considering it's market neutral and presumably neutral to style and sector
factors. This kind of fund shouldn't even be _able_ to lose that much money is
so short a time span, it simply wouldn't be possible in almost all market
conditions. But then again, the kind of equity movements we've seen since
March have been entirely unique: now equities are primarily exposed to the
"coronavirus factor", a novel factor that has never existed, not been
considered, before.

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kratom_sandwich
Note that this is the performance of the Renaissance Institutional Diversified
Alpha fund, not the well-known Medallion fund

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pietrovismara
...good?

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viburnum
They’ll quietly close the losing fund and start fresh with a new one.

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notfromhere
Medallion is such a money printing machine I wonder why tbey bother taking
outside capital rather than just being a secretive prop shop

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smabie
Probably because Medallion is capped out at 10bn and Simons need some other
place to put his money.

