De Rijdende Rechter schreef op 6 december 2019 13:22:
“About 20 portfolio managers have left Steven A. Cohen’s hedge fund firm this year, including several who worked with Cohen for more than a decade, according to people familiar with the matter.”
Billionaire Steve Cohen led losses among his biggest multistrategy hedge fund peers last month as sweeping market shifts blindsided investment managers.
Cohen’s $15 billion Point72 Asset Management fell about 2%, trimming gains this year through September to more than 10%, according to people familiar with the matter. Balyasny Asset Management lost 1.4% in the month, paring year-to-date performance to about 9%. Izzy Englander’s Millennium Management fell 0.5% in the U.S. version of its main vehicle, while Ken Griffin’s $32 billion Citadel lost 0.2% in its flagship fund, trimming returns for 2019 to about 6.5% and 14%, respectively.
Early September saw a dramatic, albeit relatively short-lived, shift from long-favored momentum stocks to value equities, after signals that a U.S. recession wasn’t imminent fueled a jump in 10-year Treasury yields. The market unwind rippled across asset classes, including commodities and currencies, where investors had positioned themselves for a further downturn in the economic outlook.
Everything That Worked Suddenly Doesn’t in Global Market Unwind