Don’t tell the FX Concepts founder that 70 is a good time to slow down and accept that your models don’t work anymore: John Taylor’s got a new office to sleep in and will busy himself at his typewriter until he can convince people to let him manage their money again. Read more »
Five years ago, when his flagship hedge funds were losing 50%-plus, who ever imagined Ken Griffin would ever again be in a position to say, “thanks but no thanks” to an investor who actually wanted to put money in to the Kensington and/or Wellington funds? Who believed in Ken Griffin?
John Taylor nurtured FX Concepts, the currency hedge fund he founded in 1981, into a strapping $14.2 billion powerhouse in 2007. Over the past six years, he’s done whatever the opposite of nurturing is, watching New York-based FX shrivel into a money-losing boutique which institutional investors line up to flee from.
But he’s not giving up, even if his last big investor is about to pull $450 million of his last $650 million—even if it means sleeping on the couch in his office until he’s forced to sell that, too. Read more »