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Renaissance Technologies

Acquired

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Navigating Financial Bets: From Trading to Gambling

This chapter explores the nuances of making strategic financial bets in gambling and trading, highlighting the need for a slight edge in decision-making amid transaction costs and market impact. It also delves into the operational dynamics of a quantitative trading firm, discussing historical contexts, fee structures, and the evolution of Renaissance Technologies over 25 years. The narrative emphasizes the balance between potential rewards and risks in investment decisions, particularly as the firm scales and navigates slippage challenges in various markets.

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