The Guardian writes: Hedge fund maestro Greg Coffey is retiring at 41 after a
glittering career. And, after a distinctly lacklustre performance recently,
many of his contemporaries are following suit
The Wizard of Oz, Greg Coffey, has clicked his heels
together and said there's no place like home. He is bowing out of the London
hedge fund world, retiring to his native Australia at the ripe old age of 41. One of the city's best-known traders, the
slick-haired investor who famously left his employer, GLG Partners, in 2008
after turning down a £156m "golden handcuffs" offer to stay, is the
latest superstar hedge fund manager to leave the industry this year.
….He has gone from generating around £200m of GLG's
performance fees in 2007, capping an impressive annual return of 22% since 2004
(and ultimately leading to the massive golden handshake offer) to
underperforming at Moore Capital, with two smaller emerging-market funds losing
16% and 2.3% respectively.
So could Coffey's departure mark the end of the big-name
trader?….
Read all about it at http://www.guardian.co.uk/business/2012/oct/21/superstar-traders-lost-magic
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