Time was, making hundreds of millions of dollars one minute and losing hundreds of millions the next got Greg Coffey’s blood pumping. Now? Eh. Who cares? What’s the point?

Greg Coffey, co-chief investment officer of Moore Capital Management LLC’s European business, is leaving the hedge-fund industry after a 20-year trading career, according to a letter sent to investors…Assets in Coffey’s macro fund have slumped to about $100 million from as much as $1.6 billion in 2010. The fund had fallen about 10 percent this year through August before rebounding almost 9 percent last month, according to people with knowledge of the matter, who asked not to be named because the information is private. The fund lost 5 percent last year. Coffey realized that after he had recovered most of this year’s losses in one week in September, he wasn’t as excited about his gains as he might have been in the past, two people who know him said. Coffey then decided it was time to end his 20-year career trading, the people said.

Moore Capital’s Coffey to Retire From Hedge-Fund Industry [Bloomberg]

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Comments (21)

  1. Posted by yabba dabba | October 17, 2012 at 6:15 PM

    Vikram called and said he thought freedom was just another for nothing left to lose. As one hedge fund genius to another Greg realized the tenderness in thar statement and decuded ti go sing his iwn tune too

  2. Posted by Dumbass | October 17, 2012 at 6:19 PM

    "Hey! You gotta have deep pockets."

    -Guy Starting His First Year of a 20 Year Trading Career

  3. Posted by SellTheBorrow | October 17, 2012 at 6:20 PM

    its been a long day. go home

  4. Posted by guest | October 17, 2012 at 6:27 PM

    yeah…

  5. Posted by guest | October 17, 2012 at 6:27 PM

    ya got that?

  6. Posted by IgnorantBastards | October 17, 2012 at 7:02 PM

    i love the guys that made money in 2006 and lost in 2008 just before quitting abruptly. true skills

  7. Posted by Aging Fat Guy | October 17, 2012 at 7:03 PM

    I bet "retiring" is the loophole that allows him to be paid for his 10-20% ownership of Moore. If he just quit, he'd lose that. So he will snorkel on the Great Barrier Rief for two years, collect the dough, and then come out of retirement. That's why retiring is the NKI, if you can do it like this… otherwise it is NSI.

  8. Posted by Guest | October 17, 2012 at 9:19 PM

    Greg will focus on opening a new barber shop with his twin brother, Edward Scissor Hands.

  9. Posted by Guest | October 17, 2012 at 9:31 PM

    Valid point, but GC is not one of those guys. Knew him back in BT days In the 90s and he made money even back then. Losing money sucks, and if you already have a few hundred million, I can see why you'd prefer just not to have the aggro.

  10. Posted by tab a dabba | October 17, 2012 at 11:03 PM

    there there, we will miss all you too

  11. Posted by Bored Guest | October 18, 2012 at 8:33 AM

    Fordham's football field was named after Jack Coffey. Never sure how they let that happen.

  12. Posted by Brudda | October 18, 2012 at 8:36 AM

    I see him more taking on the role of Edward in the not doubt in the pipelines Twilight stage production…

  13. Posted by Fixed it for you | October 18, 2012 at 8:51 AM

    "Grate Berrier Rief"

  14. Posted by Guest | October 18, 2012 at 10:30 AM

    Wait a minute, I thought Richard Gere killed that guy with a snow globe

  15. Posted by YourTeenager | October 18, 2012 at 10:32 AM

    LOL RAGEQUIT!!1!

  16. Posted by Just sayin | October 18, 2012 at 1:51 PM

    If comments were trades, it would seem you might consider a similar path to Greg

  17. Posted by Brudda | October 19, 2012 at 4:04 AM

    Touché

  18. Posted by 10 mil liquid | October 19, 2012 at 9:13 AM

    "if you already have a few hundred million"

    that is kinda the hard part though uh ??

    your "number" goes down proportionately to age and proxim to London and NY

  19. Posted by buboe | October 21, 2012 at 11:06 PM

    Given that he's returning to Sydney, 100mil will probably be ok…

  20. Posted by Guest | October 22, 2012 at 10:11 AM

    Voldemort really let himself go…

  21. Posted by krill oil+youtube | November 17, 2012 at 7:41 AM

    Pursuing new markets when they are still in a commercially inferior or unattractive state, simply because their potential to grow and intersect with established markets and value networks looks like a likely bet. Thanks a lot.