While his trading and quantitative analysis strategies have come under intense scrutiny, he has also shared some management and leadership lessons over the years. In 2010, he established his five “Guidelines.”
1. “Do something new. Don’t run with a pack. I’m not a very fast runner. If I were one of them N Since everyone is working on the same problem, my chances of winning are slim to none. If I can think of new problems in new areas, it will give me a chance. ”
2. “Surround yourself with the smartest people you can find. When you see them, do everything in your power to get them on board. It will expand your reach and bring great people together.” It’s fun to work with.”
3. “Be guided by beauty. This is obviously true when you do math or write poetry, but it also applies when you run an organization very well and accomplish its mission brilliantly. .”
4. “Don’t give up easily. Some things may take much longer than you originally expected. If your goal is worth achieving, just keep going.”
5. “Good luck!”
In his 2022 speech at an event sponsored by the Abel Prize in Mathematics, Simmons reiterated these five principles and also noted that Rentech employed statisticians, physicists, astronomers, and mathematicians in its early years. “I’m telling you, you can teach,” he added. Physicists are in finance, but they cannot teach physics to finance people. ”
In fact, RenTech rarely hired to fill a need, and instead sought out top talent with the premise of finding ways to improve quantitative trading, the paper said. wall street journalGregory Zuckerman wrote a book about Simons. But his ability to motivate all the brightest minds was also outstanding. A former senior executive told Zuckerman: It is his ability to manage genius. ”
Zuckerberg also said Simmons maintains a flat organizational structure at Rentech that fosters collaboration and transparency. This philosophy also applied to his RenTech compensation, where employees were paid based on Medallion Fund performance rather than focusing on individual performance.
“Jim wasn’t greedy by Wall Street standards,” another former executive told Zuckerman. “So most of the seniors were very happy and didn’t fight with each other.”
Simmons stepped down as Rentech’s chief executive officer in 2010 and as chairman in 2021, gaining attention for his philanthropic work.
In a series of talks at MIT in 2019, he reflected on his career and highlighted the people he welcomed along the way.
“My biggest contribution has been hiring talented young people into this business,” he said. “We have great leaders and they kept going. They haven’t missed a beat.”
