Jonathan Kandell in the New York Times:
Mr. Simons equipped his colleagues with advanced computers to process torrents of data filtered through mathematical models, and turned the four investment funds in his new firm, Renaissance Technologies, into virtual money printing machines.
Medallion, the largest of these funds, earned more than $100 billion in trading profits in the 30 years following its inception in 1988. It generated an unheard-of 66 percent average annual return during that period.
That was a far better long-term performance than famed investors like Warren Buffett and George Soros achieved.
More here. Also see this, “RIP to the man who beat the efficient market hypothesis” by Eric Hoel.