Paul Tudor Jones, Michael Novogratz and Louis Bacon, hedge-fund managers that profited last year from bets on macroeconomic trends, posted losses in the first quarter as some of those trades turned against them.
Geraldine Sundstrom is leaving Brevan Howard Capital Management LP and the firm is shutting her hedge fund after it lost money amid a rout in emerging markets, according to a person with direct knowledge of the decision.
When Alan Howard set off for a business trip to India as a young Salomon Brothers bond trader in the late 1980s, colleagues advised against drinking local water. When he got back, the buzz on his trading desk was about the huge tab Howard had run up buying cases of Evian water, according to a person who worked with him at the time.
Brevan Howard Capital Management LP, Europe’s largest closely held hedge-fund firm, plans to bet on the direction of markets in Japan and Europe this year as the billionaire founder, Alan Howard, conceded that 2013 was “disappointing” for returns.
Brevan Howard Asset Management LLP, the U.K. unit of Europe’s largest closely held hedge-fund firm, paid its partners as much as 60.4 million pounds ($99 million) for the year through March, according to a corporate filing.
Brevan Howard Capital Management LP has started an investment fund run by a team of former Deutsche Bank AG market strategists in New York, as Europe’s second- biggest hedge-fund firm expands its presence in the U.S.
When Larry Robbins was a boy in the Chicago suburbs, his father, Sheldon, worked two jobs and wasn’t around much. If the young Robbins wanted to see him on weekends, he had to travel to Arlington Park, a nearby horse-racing track that his dad ran. During those Saturday visits, his father taught him how to handicap horses. One lesson: Know the horse and the race. Was the track dry or muddy? Did the horse win because he was fast or because the competition was lousy?