Background: Is Coffey Causing too Many Ripples at Moore?

When Greg Coffey was at GLG running their superstar EM Fund, there were rumors the risk manager was not allowed any oversight of his hedge and long-only funds.  This came from their prime brokers so there is some credence to that statement.  We ourselves would notice his sometimes high allocations to illiquid (how does a ski resort in Hungary strike you?) or downright terrifying (private banks in Nigeria?) positions.  No one said anything because most of these positions paid off and there was also Greg’s trading style.  Sometimes he would trade around a position more than 50 times.  A day! Continue reading “Background: Is Coffey Causing too Many Ripples at Moore?”

Background: Hugh Hendry on BBC HARDtalk

 

Hugh Hendry of Eclectica Asset Management

 

One of my favorite hedge fund managers Hugh Hendry is in the news again.  This time, he’s on BBC’s HARDtalk (if you have BBC iPlayer, watch it there, if not here’s the YouTube link).  The commentariat and the resultant comments are gloating (and this with more than a bit of schadenfreude) that Hugh Hendry is losing money!  Of course, this is HARDTalk and Stephen Sackur is a much more thoughtful man.  They have a rather interesting discussion centering around risk, shadow banking, hedge funds, and casino banking.  I’ve always thought that Hendry’s performances on fora like CNBC are more a function of his lack of respect for the presenters and their audiences.  This, this was much more nuanced.  Continue reading “Background: Hugh Hendry on BBC HARDtalk”