The $69 billion hedge fund uses a strict trading strategy to make sure it consistently makes money.
This trading strategy has helped founder Israel Englander become a billionaire.
AdvertisementThe $69 billion Millennium Management hedge fund employs a simple yet effective trading strategy to make sure it almost always makes money in the stock market: cut losing stock positions as quickly as possible.
This strict stop-loss trading strategy means the hedge fund goes through a lot of employees, sporting a high turnover rate of about 15%-20% of its staff each year.
But the trading strategy is also what turned its founder, Israel Englander, into a billionaire.
Persons:
Israel Englander, —, Englander
Organizations:
Management, Service, Millennium, Bloomberg, Wall Street Journal, Millennium Management