Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Jim Simons’ Renaissance Fund Shifts to Right

Hedge fund management can make all the difference in a fund’s performance but it can also have an effect in the political arena, as in the case of Jim Simons’ Renaissance Technologies fund. It shifted to the right after Simons stepped down as CEO.

RENAISSANCE TECHNOLOGIES

Jim Simons, Democrat Supporter

Jim Simons founded Renaissance Technologies, a fund dedicated to using complicated mathematical models to make calculated investing decisions. Simons was every successful and grew his fund to a portfolio value worth billions. Through all this, Simons was a Democrat and actively supported Democrat campaigns, from President Obama’s presidential bid to Democratic Senate and Congressional election campaigns according to Muckety. When Simons stepped down as CEO last year, he was succeeded by co-chief executives Peter Brown and Bob Mercer. Muckety notes that Simons still “continues to funnel his contributions to Democrats.”

Bob Mercer Leans Right

Bob Mercer, a relative unknown political supporter before this, has since become very politically motivated. Muckety reports, “His soft money contributions have totalled more than $700,000 since September 2010. In August, he gave $100,000 to the conservative Club for Growth Action PAC.” The article continues to note that in January that Mercer almost single-handedly financed an ad campaign opposing construction of an Islamic center in lower Manhattan.” The article continues, “He was also a big donor to Concerned Taxpayers of America, a group that ran ads last fall against Rep. Peter DeFazio, a Democrat from Oregon. DeFazio has supported transaction taxes and increases in capital gains taxes – two measures that would cut into Renaissance Tech’s profits.”

Loading...