Can't believe a comment this ignorant is so highly upvoted. Quant funds that do well are a real thing. Many people here work at them. Renaissance used a technicality to try to avoid taxes, and they are in a dispute over it with the IRS. That has absolutely nothing to do with the legitimacy of their primary fund. Medallion predates their public funds. They launched their public funds because Medallion was capacity constrained, and they thought they could cash in on its reputation. It's the public funds that are the afterthought, not Medallion. They are not moving the strategies around ex-post. You're just completely making things up here. Anyone with any knowledge of the history of Renaissance knows that that doesn't even make chronological sense.