'Man Who Solved The Market,' Quant Legend James Simons, Last Held These Two Dividend Stocks

Zinger Key Points
  • Quantitative strategies use computer algorithms to find inefficiencies in the market to earn investment gains.
  • ABB launched a new share buyback program of up to $3 billion on April 1, 2022.
'Man Who Solved The Market,' Quant Legend James Simons, Last Held These Two Dividend Stocks

Jim Simons is the founder of Renaissance Technologies, which uses a quantitative strategy when buying and selling out of positions. The story of the secretive mathematician who amassed a net worth of over $28 billion as an algorithm pioneer was told in the book, "The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution," by Gregory Zuckerman

Quantitative strategies use computer algorithms to find inefficiencies in the market to earn investment gains. Here are two dividend stocks that Renaissance Technologies held according to the firm's previous two 13F filings, although Renaissance Technologies is known to rapidly turn over stocks.

Walgreens Boots Alliance WBA is offering a dividend yield of 5.33% or $1.92 per share annually, making quarterly payments, with a solid track record of increasing its dividends for five consecutive years. Walgreens is a leading retail pharmacy chain with about 13,000 stores in the U.S. and internationally. Nearly 80% of the U.S. population living within five miles of a Walgreens store.

Sales from continuing operations in the first nine months of fiscal 2022 were $100.3 billion, an increase of 2% from the same period a year ago, and an increase of 2.7% on a constant currency basis.

Also Read: What to Watch For On Amazon.com As The Stock Trades Toward A Gap-Fill

ABB LTD ABB is offering a dividend yield of 3.11% or 88 cents per share annually, with a decent track record of increasing its dividends over the past three years. ABB is a global supplier of electrical equipment and automation products, and is the number-two robotic arm supplier globally.

ABB launched a new share buyback program of up to $3 billion on April 1, 2022, and during the second quarter, 33,852,000 shares were repurchased or just over $1 billion.

Photo: Courtesy of Graham Leuschke on flickr

Posted In: 13F filingsHedge Fund Dividend StocksJames Simons Dividend StocksRenaissance Technologies High Yielding InvestmentsLarge CapLong IdeasNewsDividendsDividendsHealth CareBuybacksTrading IdeasGeneral