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Success, however, was not immediate. During the initial stages, Renaissance relied on a blend of mathematical models and human intuition, which often led to flawed decision-making. A pivotal change came about when Simons acknowledged the incapacity of human judgment in trading and began refining their algorithms.
The introduction of sophisticated models allowed Renaissance to make predictions based on extensive datasets dating back to the 1800s. Eventually, the Medallion fund was launched, yet it variously struggled in its infancy, with leadership changes and operational shifts characterized by trial and error.