Early Life and Education
Henry B. Laufer was born in 1945 to a Jewish family. He earned a Bachelor of Science degree in mathematics from the City College of New York in 1964. He furthered his education by earning a Master of Arts and a Doctor of Philosophy in mathematics from Princeton University.
Rise to Success
Laufer's career took a significant turn when he joined Renaissance Technologies in 1992, where he became Vice President of Research and Chief Scientist. He co-founded the Medallion Fund with Jim Simons in 1988, which became one of the most successful hedge funds globally. The fund's success was driven by Laufer's expertise in developing and refining statistical models for automated trading. His work at Renaissance Technologies resulted in his earning $125 million in 2008 and $390 million in 2009.
Key Business Strategies
At Renaissance Technologies, Laufer spearheaded the development of computer programs designed to identify optimal intraday trades, enabling the firm to transition to high-frequency, non-discretionary strategies. These strategies prioritized algorithmic execution. He played a crucial role in the development of statistical methods that enabled the firm to deliver superior returns, even during market downturns.
Philanthropy
Laufer is also known for his philanthropic endeavors. He and his wife, Marsha Zlatin Laufer, have significantly supported mathematical and scientific initiatives. These include a $70 million gift to the Mathematical Sciences Research Institute and the establishment of the Laufer Center for Physical and Quantitative Biology at Stony Brook University, which focuses on integrating computational and physical sciences to drive discoveries in biology and medicine.