renaissance

This could turn into an interesting story. From the WSJ,

Investors in a hedge fund run by James Simons are asking questions about why a fund held by Mr. Simons and fund associates is racking up big gains while another held mostly by outside investors is losing money.

Simons' Renaissance Fund is a well known fund in the community. It's not only large it has produced incredible returns over the years. You may have seen his name in the papers because of his enormous take home pay. He made $1B a couple of years ago. I believe he made $2.5B last year. The issue is around returns for two funds: REIF and IEF. The first one mainly holds money from James Simons. IEF is for outside investors.

2009 YTD Returns
IEF: -17%
RIEF: +12%