Bobby Jain Returns Capital Amid Hedge Fund Gazumping Surge
Back from leave. Broke the digital detox a couple of times. Worth it. Bobby Jain is returning external capital in one of the most consequential moments in hedge funds this year. Gazumping is accelerating and sparking even litigation: https://t.co/9xv87N71Io via @LinkedIn
Trader Duran Steinman Backs Out of Millennium, Joins Citadel
SCOOP: Hedge Fund Trader ‘Gazumps’ Millennium, Again. This time to Join Citadel. After agreeing for the second time to join Millennium, macro trader Pablo Duran Steinman has reneged once again. https://t.co/LpM1X8o12P
Collaboration Beats Competition for Hedge Fund Survival
Less than two years after launching his multistrategy hedge fund, industry veteran Bobby Jain has concluded that collaboration — not competition — is his best shot at survival in a world already owned by the likes of Millennium Management and...
Hedge Funds Lose New Hires to ‘Gazumping’ During Gardening Leave
BIG TAKE: The hedge fund talent war has a new name: gazumping. Trader accepts a job, the firm waits months for them to finish their gardening leave and then a rival swoops in and poaches them before they ever...
Dubai Offers Hedge Funds Flexibility Amid Iran War
Dubai is moving quickly to give hedge funds flexibility to navigate Iran war-related disruptions. An open-for-biz approach, alongside tax advantages and access to capital, had lured hedge funds to Dubai and neighboring Abu Dhabi in the first place. https://t.co/m9DiSMStwP
Quant Investor Suneil Setiya Purchases Nick Candy’s Chelsea Home
Suneil Setiya, the co-founder of quant investing firm Quadrature Capital, is the buyer of Nick Candy’s family home in London’s Chelsea district, according to people familiar with the matter. https://t.co/Sf9i5nsJ4C
March Sees Mixed Fund Performance, Many Losses
More evidence of a tough March: --Moore Offshoot JJJ: lost 11% --Guo Feng’s Symmetry lost 2.6% --Greg Coffey’s Kirkoswald joined Rokos: + 0.23%, bringing returns for the first quarter to 11%,. Others: -Blackrock STA: +1.2%/+4.2% and D1 Stock Book: -6%/+2.7 (March/YTD) https://t.co/X8Ifaxd1Yi
AI Hedge Fund Turns Killer when Shut Down
In 2011, Robert Harris published The Fear Index, a thriller about a mathematician who builds an AI-driven hedge fund in Geneva. The system works perfectly. Makes him obscenely rich. Then tries to kill him when he attempts to shut it...
LLMs Become the Newest Addiction for Non‑coders
The three most harmful addictions are heroin, carbohydrates and a monthly salary. — Nassim Taleb, The Bed of Procrustes The fourth? LLMs in the hands of those who can't write a single line of code. Result: https://t.co/pt2pbQ8Ln1
Quants, Commodities and Long Vol Outperformed Amid Macro Reversal
This week: March showed how fast macro can turn. Crowded trades unraveled, discretionary funds were hit and the winners came from a very different mix: quants, commodities and long vol https://t.co/mab8WrSfpa via @LinkedIn
Rokos Fund Gains 2.1% Monthly, 4.7% YTD
Several people asked for Rokos, so here it is: His hedge fund returned about 2.1% last month, taking the year’s advance to 4.7%. +Discovery: -4.1/+5.7 Full list: https://t.co/AJGsR9CjHg
Macro Traders Face Biggest March Losses Amid War Hedge Squeeze
𝐌𝐚𝐜𝐫𝐨 𝐓𝐫𝐚𝐝𝐞𝐫𝐬 𝐒𝐥𝐮𝐦𝐩 𝐌𝐨𝐬𝐭 𝐢𝐧 𝐌𝐚𝐫𝐜𝐡 𝐚𝐬 𝐖𝐚𝐫 𝐒𝐪𝐮𝐞𝐞𝐳𝐞𝐬 𝐇𝐞𝐝𝐠𝐞 𝐅𝐮𝐧𝐝𝐬 *Haidar Jupiter: -12% *Brevan Howard Master: -6.6% for the worst monthly loss in its two-decade-plus history *Diego Megia’s Taula -8.6% https://t.co/Ye6CajOsZO https://t.co/fMkAfo9I9F
March Reality Check: Hedge Funds Raise Billions, Record Cambridge Gift
March delivered a reality check to clients of some of the biggest hedge funds. Kite Lake raised $700m. Taula raised $1.75b despite losses. My week in stories: full table with new names to a record £190 million Cambridge donation by...
New Hedge Fund Returns Table Shows Top Performers
Hedge fund returns table with many more names, including Citadel, Point72, Verition and more https://t.co/LBkCq0Uiq9
Hedge Funds Suffer March Losses Amid Middle East Conflict
March was BRUTAL: Some of the world’s biggest hedge funds known for delivering steady returns lost money as the war in the Middle East roiled markets across energy, bonds and equities and forced traders to unwind crowded positions. Here are...