Business History How Jim Simons Built a Machine That Beat the Market

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Jim Simons loved cigarettes and math. He started out as an academic mathematician and a Cold War code breaker – but decided to use his skills to write computer programs to spot investment opportunities in the financial markets.

Simons and his fierce nerds bought up all the data sets they could find – reports, books, magnetic tapes – and built machine learning algorithms to hunt for tiny market discrepancies they could exploit. The investment funds Simons started made extraordinary profits – so is this the end for human emotions in financial trading?

The Hosts

Jacob Goldstein

Jacob Goldstein spent more than a decade as co-host of the Planet Money podcast. He's also the author of the book Money: The True Story of a Made-Up Thing, which the New…

Robert Smith

Robert Smith, co-host of the Business History podcast, is a Professor of Journalism at Columbia University and contributing host of NPR's Planet Money where he tells stories about how the…