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It certainly appears that way. WSJ picks up on dissent among investors in Renaissance Technologies, a massive quantitative hedge fund run by the highly secretive geek James Simons. Observers have been wondering how Renaissance's in-house Medallion Fund has managed to continue to outperform the stock market handily while funds open to outside investors have performed miserably. Simons' outside investors funds were apparently obliterated in the massive short squeeze also known as the most recent bear market bounce.Zero Hedge then picks up the trail and does some additional digging into recent disclosures by Renaissance that reveal the firm has, at some point in the recent past, violated regulatory rules of some sort (unclear as to which body these rules pertained). The violation could be related to the Nova Fund, a hedge fund that had very high returns which was mysteriously subsumed by the internal Medallion Fund. Simons is one of the biggest of the hedge fund billionaires. He earned roughly $2.5 billion in 2008, $2.7 billion in 2007 and $1.7 billion in 2006. Stay tuned on this story as it could really pop.
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