This is the direct piece DeepSeek founder wrote in the legendary Jim Simons book, The Man Who Solved the Market: Liang Wenfeng Founder of High-Flyer Quant “James Simons is a titan in the field of quantitative investing. For a long time, the outside world knew little about Simons and the Renaissance Technologies he founded. Yet this has not stopped countless young people, inspired by Simons’ story, from entering this mysterious industry. Like many new technologies, quantitative investing was initially an object of ridicule when it first emerged; no one believed computers could invest like humans. But Simons keenly foresaw that with the development of computer technology, the “impossible” would one day become reality. In the early days, Simons made many attempts, most of which were not very successful, but he did not give up. He believed time was on his side. Simons was fortunate to have encountered the right era. By the late 1980s, the development of computer hardware and software had reached a tipping point. People began building truly practical models and achieved initial success in certain niche areas of investing. When Simons established the Medallion Fund in 1988, he was already 50 years old and had experienced over a decade of setbacks in investing. But this time, he seized the opportunity and boarded the train to a new era. Today, the rise of many quantitative giants on Wall Street can be traced back to this period. Simons and other pioneers, using what now seem like relatively simple techniques, quickly picked the lowest-hanging fruit in the market and accumulated their first bucket of capital. This was just the beginning. Over the next 30-plus years, computer technology continued to advance, and quantitative investing gradually evolved into a new darling of the capital markets. New models were continuously developed, more “impossibilities” became reality, ultimately making quantitative investing an inevitable trend in the financial sector in the 21st century. Throughout this process, Renaissance Technologies, under Simons’ leadership, consistently stood at the forefront of the times, becoming a benchmark for the industry. The glorious 30-plus years of Renaissance Technologies also coincided with a period of increasingly strict and transparent financial market regulation. In the early days, fund managers could obtain more information from company management, giving them a trading advantage. However, such unfair practices were gradually resolved over the past 30-plus years. In the information age, financial markets are fair and transparent, placing human fund managers and computer models on the same starting line. This further cleared the path for the widespread success of quantitative investing. Why did finance become fair and transparent precisely during these 30-plus years? To some extent, this is also thanks to the development of computer technology. As Simons approaches retirement, the publication of this book unveils many previously unanswered mysteries and offers a wealth of experience for us to learn from. While foreign models may not be directly applicable to China, reading this book can provide us with much food for thought and inspiration. What traits and opportunities made Simons a fortunate figure in history? How does one manage an excellent team to remain undefeated for over 30 years? Why does technology bring about such profound changes in financial markets? Readers can find answers to these questions in this book. As a member of the younger generation, I am deeply honored to write the preface for the Chinese edition of Simons’ biography. Whenever I encounter difficulties in my work, I recall Simons’ words: “There must be a way to model the price.””