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☆ How Rokos stayed true to its big-bet roots and became the old-school manager every investor wants
▼ + stars: | 2024-12-17 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +9 min

The $19 billion manager Rokos Capital is an outlier in the increasingly institutional hedge fund industry. Its billionaire namesake, who was a cofounder of Brevan Howard, runs the majority of the portfolio. Related storiesIn 2002, Howard, Rokos, and three other Credit Suisse traders left the now-defunct Swiss bank to launch Brevan Howard (the "R" in Brevan is for Rokos). AdvertisementEventually, Rokos and Howard settled their dispute, and Howard even backed Rokos' new manager, reports at the time said. Headquartered on the posh London strip known for its bespoke tailoring, Roko's firm has a "Savile Row style" of customization for its founder.

Persons: Brevan Howard, Chris Rokos, Donald Trump, Rokos, Stanley Druckenmiller, George Soros, Goldman Sachs, Alan Howard, Howard, Trump's, Brevan, Savile, He's, it's, Mark Edwards, Matthew Sebag, Montefiore, Oliver Wyman, Pria Bakhshi, Quita Ramirez, Dmitry Green, Lauren Fairbairn, he's, Cliff Asness, Louis Bacon, Michael Platt, David Tepper, Jeffrey Talpins, Said Haidar, Paul Tudor Jones, Henry VIII Organizations: Rokos, Bloomberg, Treasury, Trump, Rokos Capital Management, Pensions, Blackstone, Eton grad, UBS, Credit Suisse, Citadel, Getty, Goldman Locations: London, Rokos, Oxford, Swiss, Brevan, London's Mayfair, New York, Schonfeld, allocators

☆ Inside Schonfeld's macro shake-up: Research turnover, PM changes, and a shift away from big bets
▼ + stars: | 2024-06-17 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A move away from big-time directional strategies is not a surprise. Plenty of funds that made their name on bold macro predictions have been humbled in the last 18 months. At Schonfeld, macro is still somewhat new for the firm. Several people familiar with the firm told Business Insider that he lost money while at the manager.

Persons: —, Colin Lancaster, Brent Cook, Eisler, Igor Ninkovic, Jaime Valle, Jerome Saragoussi, Ben Melkman, Brevan Howard, Jordan Barnes, Rahul Mehra, Karthikeyan, Yasmin Sahin, Said Haidar's, Sharpe, Lancaster, Melkman, Marc Tishfield Organizations: Service, Business, United Arab Emirates, Schonfeld, Bridgewater, Barclays, Citi, Matador Investment Management, Millennium Locations: York, Europe, Dubai, London, Bridgewater, Melkman, Schonfeld, New York

☆ The billionaires' beef at Two Sigma seems pretty petty
▼ + stars: | 2023-06-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

ICYMI: This is the last week of 10 Things on Wall Street. Insider's Rebecca Ungarino has more details on how long the beef between Overdeck and Siegel has been brewing behind the scenes. What stands out to me about the drama at Two Sigma is how it all seems to be so petty. The Two Sigma cofounder was included only as an example of the type of managers Haider had eclipsed. The asset manager tapped two internal executives to serve as co-CEOs of the firm, succeeding CEO Jay Wintrob, The Wall Street Journal reports.

Persons: Dan DeFrancesco, I'm, Billy Joel's, —, we've, Goldman, Cofounders David Siegel, John Overdeck, David Siegel, cofounders, Insider's Rebecca Ungarino, Siegel, Rebecca, Haidar Capital's Said Haidar, Haider, Penny, Warren Buffett, Charlie Munger, Scott Olson, Ruobing Su, Michael Broadbery, Goldman Sachs, Maza, Andreessen Horowitz, Seth Klarman, Jay Wintrob, Robert O'Leary, Armen Panossian, Everybody's, they're, Joey Hadden, Jeffrey Cane, Hallam Bullock Organizations: Sigma, Baupost, Oaktree Capital, Street, Wall, LinkedIn Locations: Omaha, New York, London

☆ 'Every victim of Saddam Hussein was waiting for this moment'
▼ + stars: | 2023-03-13 | by ( Charlotte Bruneau | ) www.reuters.com time to read: +2 min

[1/5] Ali Hassan al-Haidari, who testified against former Iraqi President Saddam Hussein during the Dujail trial, that led to Saddam's death sentence, sits at his home in Dujail, Iraq, January 28, 2023. "Every victim of Saddam Hussein was waiting for this moment," said Haidari, one of the few people who was ready to show his face when giving testimony to the court that sent the former Iraqi strongman to the gallows. Seven of his brothers were among those killed in the security sweep after the attempt on Saddam's life as his convoy passed by. A video from the trial showed Haidari standing with Saddam behind him and telling the judges: "He is responsible for my detention, for losing my future, for executing my brothers". Grand Ayatollah Ali al-Sistani, Iraq's most influential Shi'tie cleric, issued a religious decree calling on Iraqis to fight against Islamic State.

☆ PayPal's CEO search amid an uncertain economy will be no easy task
▼ + stars: | 2023-02-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In case you missed it, PayPal CEO and President Dan Schulman announced his plan to retire at the end of 2023 earlier this month. Coming off an extremely difficult 2022, and with competition seemingly coming at them from every which way, PayPal has to find a new CEO. I hesitate to compare this to the seemingly never-ending CEO search at Carlyle, but it's easy to see how a difficult quarter or two could complicate this entire search. The rich stay rich thanks to another loophole that helps them save on taxes. Elliott Management's Paul Singer and Two Sigma's David Siegel both played second fiddle to Haidar Capital's Said Haidar in 2022 when it came to comp.

☆ A little-known hedge-fund manager's huge bet on inflation earned him $859 million and propelled him into the top 10 list
▼ + stars: | 2023-02-17 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

The manager of a little-known hedge fund was the 6th highest paid manager last year, per Bloomberg. Said Haidar made a huge leveraged bet on interest rates rising last year, and took home $859 million. The jump in prices last year means the hedge fund, which had positioned itself to profit from the rises, was able to benefit reap huge returns from its bet. His $859 million total was split between a $645 million gain on personal investment and a $314 million share of fund performance fees. Meanwhile, Elliott Management's Peter Singer brought home $317 million, with his hedge fund managing $56 billion in assets.

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