Peter Fitzhugh Brown (born February 2, 1955) is the CEO of the American hedge fund Renaissance Technologies.
He is also a descendent of Virginia statesman Richard Henry Lee, whose June 1776 resolution led to the United States Declaration of Independence.
To do that, the IBM researchers employed the Baum-Welch algorithm—codeveloped by Jim Simons's early trading partner Lenny Baum—to zero in on the various language probabilities.
[13] Brown unsuccessfully urged IBM management to use the speech group's research to develop and sell new products, such as an automated service for evaluation of financial credit.
The team, working for IBM, developed Deep Blue, which defeated Garry Kasparov in a 1997 chess match.
[13][16] Jim Simons offered to double Peter Brown's and Robert Mercer's IBM salaries, so they went to work for Renaissance Technologies in 1993.
[21] As Jim Simons became more confident, he moved the firm into a new headquarters compound with a gym, lighted tennis courts, a library with a fireplace, and a large auditorium, where biweekly seminars were held.
[1] Brown and his sisters, Elizabeth Devlin and Harriet Dickerson, own Rockland Farm LLC in Loudoun County, Virginia, which has been in the Rust/Brown family for over 200 years.
[27][28] After unauthorized expansion of the landing including a concrete retaining wall was built on the property by the operators of White's Ferry following damage from a flood, Rockland Farm LLC sued, stating the 1952 license had been violated.