Jim Simons
LATEST: June 3, 2004. Symbol Technologies Indicted in Accounting and Stock Options Fraud Case
"The scope and magnitude of the fraud at Symbol Technologies warrant the imposition of significant penalties — not just against individual wrongdoers, but also against the company responsible for having created and fostered the environment in which the wrongdoing took place." - SEC
US government uncovered a widespread and pervasive accounting fraud scheme to inflate Symbol's reported revenue. It also discovered a 'look-back' plan to help certain executives to use advantageous exercise price for their stock options. Jim Simons (James H. Simons) is/was a director there and was in no way directly involved with this another scam operation. For informational purposes only.
Have you ever wondered why Jim Simons and Renaissance Technologies Corp mostly seemed to recruit PhD's in fields like mathematics, physics, astrophysics? 'Smarts' you say but that is only part of the equation. Sorry, promised essay will be delayed by a few days.
Note: Jim Simons, to best of my limited current knowledge, was not involved with notorious scam Xamplify Inc. Here, Jim Simon's remarkable achivements are listed to make visitors aware of them. Work-in-progress status.
From Mathematical Sciences Research Institute (MSRI) Website
Jim Simons, President, Renaissance Technologies Corporation
Dr. Jim Simons is President of Renaissance Technologies Corp., an investment firm dedicated to the use of mathematical methods. Renaissance currently manages over $5 billion of hedge fund assets on which, over the past ten years, the compounded return has been approximately 40%. Prior to his financial career, Dr. Simons served as chairman of the Mathematics Department at S.U.N.Y. Stony Brook, was a cryptanalyst at the Institute of Defense Analyses in Princeton, and taught mathematics at M.I.T. and Harvard University.
Jim Simons (more from MSRI)
Dr. Simons is a director of a number of U.S. based companies including Franklin Electronic Publishers, Cylink Corporation, Segue Corporation and Symbol Technologies. He is also a founder and director of the Sanford Group, an industrial holding company in South America.Dr. Simons serves as Trustee of Rockefeller University, Chair Emeritus of the Stony Brook Foundation Board at S.U.N.Y. Stony Brook, a member of the Visiting Committee of the Department of Mathematics at M.I.T and serves on the Board of Trustees of the Mathematical Sciences Research Institute in Berkeley, California and the Institute for Advanced Study in Princeton, New Jersey. He is a Director of B.S.A. (the management organization of Brookhaven National Laboratories). He holds a B.S. from M.I.T., a Ph.D. from U.C. Berkeley, and was the winner of the American Mathematical Society Veblen Prize in Geometry in 1975.
Jim Simons
Jim Simons (my note): Jim Simons runs Renaissance Technologies Hedge Fund whose Medallion Fund was, perhaps the best large hedge fund ever. Medallion Hedge Fund seems to be closed to new investors now. UC Berkeley's Elwyn Berlekamp, another mathematician, managed Renaissance Technologies Medallion Hedge Fund in past. Brilliant chaps - Berlekamp and Jim Simons.