Under $10 Stocks From Renaissance Technologies
Last week I wrote an article on Jim Simons. His quantitative-based hedge fund Renaissance Technologies is on fire: Its Medallion Fund is up more than 50% in the first three quarters of 2007, according to a recent Bloomberg report.
Simons' team of mathematicians and statisticians use complex trading algorithms to help the firm pick cheap and undervalued stocks.
This week, Stockpickr has reviewed the stocks held by Renaissance and extracted the ones that meet the following criteria:
- A stock price under $10.
- Zero debt on the balance sheet.
- Insider buying within the past three to four months.
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