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Most financial advisors would agree that any return that beats the market (which has seen an average annual return of 10.7% since 1871) is pretty darn good. From 1965–2017, Warren Buffett (through Berkshire Hathaway) enjoyed a 20.9% average annual return, and he’s historically one of the best investors in the world.
But did you know that the Renaissance Technologies Medallion Fund has gained 71.8% per year from 1994 to 2014, thriving through the Dot Com Bubble and the recent recession?
How did Simons and his team achieve such staggering returns? By using robots.
According to The Economist, robot trading now accounts for 35% of all stock market trading, 60% of institutional equity asset management, and 60% of all trading and investing overall.