By Pete Gallo
Filings with the Securities and Exchange Commission
show a Renaissance Technologies portfolio laden with enough
precious-metal stocks to inspire envy from the Doge of the
Venetian Republic during its heyday.
And as the U.S. stock market in September faced its gravest
moments since 1929, Jim Simons' portfolio team must have been
thankful for that scant silver lining in the market storm - an
upsurge in gold and silver stocks.
As of the start of the third quarter, Renaissance held large
positions in no less than six silver production and mining
stocks. And in the gold sector, filings show a dozen
significant equity positions. (Most were new positions added to
the portfolio since the start of the year, filings show.)
The largest gold bet paid off handsomely for Renaissance in
September. Filings with the SEC show that Renaissance held 4
million shares in Denver-based...