49 citations intemporelles sur l'investissement et la vie
"We search through historical data looking for anomalous patterns that we would not expect to occur at random."
— Jim Simons
"Past performance is the best predictor of success -- not credentials, not reputation."
— Jim Simons
"I wasn't the fastest guy in the world. I compensated with persistence."
— Jim Simons
"We search for patterns in data that are predictive of future prices. The patterns have to be statistically significant and stable over time. Human emotion and judgment should not override the data."Lire l'Analyse Complète →
"Good science requires good scientists. We hire PhDs in mathematics, physics, and computer science—not Wall Street traders. The best minds in quantitative fields can find patterns others miss."Lire l'Analyse Complète →
"You only need to be right 50.75% of the time to make a fortune. A small edge, applied consistently across thousands of trades with proper risk management, compounds into extraordinary returns."Lire l'Analyse Complète →
"Markets generate massive amounts of data. Machine learning algorithms can detect subtle patterns and relationships that humans cannot perceive, adapting to changing market conditions automatically."Lire l'Analyse Complète →
"In a competitive market, revealing your edge destroys it. Keep your methods, signals, and strategies strictly confidential. The value of an edge decreases as more people try to exploit it."Lire l'Analyse Complète →
"Don't rely on a single model or pattern. Use thousands of uncorrelated signals and strategies. When one stops working, others continue to generate returns. Redundancy builds robustness."Lire l'Analyse Complète →
"Markets evolve and patterns decay. Your models must constantly improve. What worked yesterday may not work tomorrow. Never stop researching, testing, and refining your approach."Lire l'Analyse Complète →
"Human traders are subject to fear, greed, and cognitive biases. Automated systems execute without emotion, following the strategy precisely. The system doesn't get scared or greedy."Lire l'Analyse Complète →
"Speed and reliability of execution are crucial. Invest heavily in technology infrastructure, data feeds, and execution systems. Milliseconds matter when trading at scale."Lire l'Analyse Complète →
"Every strategy has a capacity limit. Too much capital chasing the same edge destroys it. Keep your fund size manageable to preserve returns. Sometimes smaller is better."Lire l'Analyse Complète →
"Never overpay for a security, no matter how exciting the story. The price you pay determines your return. Discipline in valuation is the foundation of investment success."Lire l'Analyse Complète →
"Always estimate the intrinsic value of a business before investing. Compare price to value, not price to past price. The gap between price and value is where profits are made."Lire l'Analyse Complète →
"Use conservative assumptions in your valuation. Optimistic projections lead to overpaying. It is better to underestimate value and be pleasantly surprised than to overestimate and be disappointed."Lire l'Analyse Complète →
"Invest in businesses with durable competitive advantages, strong cash flows, and management integrity. Quality businesses compound wealth over time and reduce downside risk."Lire l'Analyse Complète →
"Before investing, identify the moat — the sustainable competitive advantage that protects the business from competitors. No moat means no long-term edge."Lire l'Analyse Complète →
"Not all earnings are equal. Look for recurring, cash-backed earnings rather than accounting profits. High-quality earnings are predictable, sustainable, and convertible to free cash flow."Lire l'Analyse Complète →
"The most successful investors stay within their circle of competence. Know what you understand well and resist the temptation to venture outside it."Lire l'Analyse Complète →
"Surface-level knowledge is dangerous in investing. Develop deep expertise in your areas of focus. True understanding means knowing what could go wrong."Lire l'Analyse Complète →
"Markets are driven by fear and greed. The disciplined investor exploits these emotions rather than being controlled by them. Emotional control is the key competitive advantage."Lire l'Analyse Complète →
"Understanding crowd psychology is essential. When everyone agrees, the opportunity has usually passed. The best time to act is when the crowd is most fearful or most confident."Lire l'Analyse Complète →
"The best investments often feel uncomfortable because they go against popular opinion. If everyone loves a stock, it's probably overpriced. If everyone hates it, investigate."Lire l'Analyse Complète →
"Before considering how much you can make, consider how much you can lose. Risk management is not about avoiding risk entirely, but about understanding and controlling it."Lire l'Analyse Complète →
"The size of your position should reflect your conviction and the risk involved. Never bet so large that a single mistake can wipe out your portfolio."Lire l'Analyse Complète →
"In a world obsessed with quarterly results, patience is the ultimate competitive advantage. Great investments often take years to play out fully."Lire l'Analyse Complète →
"Compound interest is the eighth wonder of the world. Those who understand it earn it; those who don't, pay it. Time is the most valuable asset in investing."Lire l'Analyse Complète →
"Think in decades, not days. The market rewards patient capital and punishes impatience. Most of the gains in investing come from sitting and waiting."Lire l'Analyse Complète →
"The cardinal rule of investing: buy only when the price is significantly below your conservative estimate of intrinsic value. This builds in protection against error."Lire l'Analyse Complète →
"The stock market is a no-called-strike game. You don't have to swing at every pitch. Wait for the fat pitch — the opportunity that offers exceptional risk-reward."Lire l'Analyse Complète →
"Never invest in anything you don't fully understand. Thorough research is the foundation of every sound investment decision."Lire l'Analyse Complète →
"Have clear, pre-defined sell criteria. Sell when: your thesis is broken, valuation is fully realized, or a significantly better opportunity appears."Lire l'Analyse Complète →
"Regularly review whether your original reasons for owning a stock still hold. If the facts change, change your mind. Holding a broken thesis is the costliest mistake."Lire l'Analyse Complète →
"After every sell, review the outcome. Did you sell too early, too late, or at the right time? Post-mortems on sell decisions improve future judgment."Lire l'Analyse Complète →
"Draw insights from multiple disciplines — psychology, history, mathematics, and science — to build a lattice of mental models for better investment decisions."Lire l'Analyse Complète →
"Think in probabilities, not certainties. Every investment has a range of possible outcomes. Weight your decisions by the expected value of each scenario."Lire l'Analyse Complète →
"Instead of asking how to succeed, ask how to avoid failure. Inverting problems often reveals insights that forward thinking misses."Lire l'Analyse Complète →
"A clear investment philosophy provides an anchor in turbulent times. Know what you believe, why you believe it, and stick to it when tested."Lire l'Analyse Complète →
"Focus on process, not outcomes. A good process can produce bad outcomes in the short run, but will generate superior results over time."Lire l'Analyse Complète →
"Develop your own investment philosophy through study and experience. Copying others without understanding why leads to confusion when strategies are tested."Lire l'Analyse Complète →
"Evaluate management by their actions, not their words. Look for a track record of capital allocation, shareholder communication, and aligned incentives."Lire l'Analyse Complète →
"Understand the industry structure before evaluating any company. Industry economics often matter more than company-specific factors in determining returns."Lire l'Analyse Complète →
"The principles that make you a great investor — patience, discipline, humility, and continuous learning — are the same principles that lead to a great life."Lire l'Analyse Complète →
"The ideal investment is a high-quality business purchased at a fair price. Quality compounds wealth; fair prices protect capital."Lire l'Analyse Complète →
"Never invest in a business you cannot explain in simple terms. If you can't describe why a company is valuable, you don't understand it well enough to own it."Lire l'Analyse Complète →
"Look for investments where a specific catalyst will unlock value. Without a catalyst, even cheap stocks can remain undervalued indefinitely."Lire l'Analyse Complète →
"The greatest enemy of the investor is himself. Fear, greed, regret, and pride cause more losses than any economic event. Master your emotions to master the market."Lire l'Analyse Complète →
"Know the common behavioral biases that trap investors: anchoring, confirmation bias, loss aversion, and herding. Awareness is the first step to prevention."Lire l'Analyse Complète →
"The market exists to serve you, not to guide you. Use market prices to your advantage — buy when the market offers bargains and sell when it offers premiums."Lire l'Analyse Complète →
"Markets move in cycles driven by human emotion. Understanding where you are in the cycle helps you prepare for what comes next and position accordingly."Lire l'Analyse Complète →
"In the short run, the market is a voting machine; in the long run, it's a weighing machine. Prices can diverge wildly from value, but eventually converge."Lire l'Analyse Complète →
"We search through historical data looking for anomalous patterns that we would not expect to occur at random."
Nous avons sélectionné 49 citations vérifiées de Jim Simons, chacune avec attribution de source et analyse approfondie.
Jim Simons frequently discusses value investing, risk management, and long-term thinking.