No. of Recommendations: 1
The Medallion fund had spectacular success, and yet is less than 1% of the total market. That makes it difficult to see the effect of Medallion on the general market. An AI that could reproduce WEB's stock picking might be possible in 20 years.
May 2023:
Berkshire Hathaway market cap $700 billion
Renaissance Technologies AUM $106 billion
total US stock market cap $44,000 billion
April 2021:
Berkshire Hathaway market cap $580 billion
Renaissance Technologies AUM $131 billion
total US stock market cap $44,000 billion
Berkshire Hathaway started earlier. WEB bought Berkshire in 1965. Medallion started in 1988.
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"Renaissance Technologies is a hedge fund with 14 clients and discretionary assets under management (AUM) of $106,026,795,439 (Form ADV from 2023-05-01)."
https://whalewisdom.com/filer/renaissance-technolo...The Medallion Fund Is Still Outperforming. Other Renaissance Funds Still Aren't, April 19, 2021
"At the end of the year the regulatory assets under management of Medallion, which includes leverage, amounted to $34.8 billion, according to its annual filing with the Securities and Exchange Commission. Regulatory assets for the entire firm were $130.86 billion."
https://www.institutionalinvestor.com/article/2bsw...Top 10 largest hedge fund managers 2022
Renaissance Technologies $57 billion as of June 30, 2022
https://www.pionline.com/largest-hedge-funds/2022"Bad ideas is good, good ideas is terrific, no ideas is terrible."
