Chris Rokos and his former hedge fund, Brevan Howard, agree on one thing: He was a pretty good trader. The former thinks that the latter’s five-year non-compete is a travesty of justice depriving the world of his irreplaceable skills. The latter is so afraid of those skills that it wants Rokos to sit out every one of those 1,826 non-competitive days, hoping that each one will blunt Rokos’ acumen as much as he fears.

And, indeed, the numbers back it up: Rokos was good. Four billion dollars-plus good. At least until 2012 when he lost almost $400 million and “retired” from a firm where losing $400 million is as good as a letter of resignation.

Filings made public by the court Tuesday show that Mr. Rokos made $1.27 billion—or 30% of the flagship Master fund’s profits—in 2011.

They also show he made $1.11 billion in 2007—equivalent to 27% of the fund’s total profits that year. In 2009, Mr. Rokos scored $933 million of profits for the fund.

But in 2012, Mr. Rokos lost $383 million for the year before he resigned from Brevan.

Brevan’s Ex-Star Trader Contesting Non-Compete Restriction [WSJ]
Rokos Lost $383 Million for Brevan Howard Fund in 2012 [Bloomberg]
Star trader Rokos slugs it out with hedge fund he co-founded [Reuters]

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  1. Posted by Bubba | August 27, 2014 at 5:18 PM

    The guy walked away with $900M. Time to develop a hobby.

  2. Posted by Xenomorph | August 28, 2014 at 4:11 PM

    Trading is a hobby, yes?

    – UBS Hobby Lobby quant