Business explained on Instagram: "Jim Simons’ Medallion Fund at Renaissance Technologies didn’t just break Wall Street records — it rewrote the rules on fees. While most hedge funds charge the standard “2 and 20”, Medallion charged an almost unbelievable 5% management fee and 44% performance fee — the highest in the industry. And investors happily paid it. Why? Because results make the rules. From 1988 to 2018, the fund averaged: • 66% annual returns before fees • ~39% annual returns after fees

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Jim Simons, the Numbers King