Tudor Investment Corp

For the most part, 2013 was not kind to Steve Cohen. The Feds put his balls in a jar and put that jar on Preet Bharara’s desk. One of his ex-employees went to trial for (and was later found guilty of) masterminding the “most lucrative insider trading scheme ever.” Other former traders helped bring the number of SAC alums indicted on securities fraud charges to nine. His genius idea to give out free hot dogs on the front lawn of SAC HQ failed to prevent a number of departures. He lost his biggest fan. For a lot of hedge fund managers, all of this would add up to moping around the office and turning in less than stellar work. For Steve Cohen, it meant turning up the Styx and getting down to business. Read more »

Ray Dalio > Louis Bacon > PTJ > Andy Hall

January’s numbers are in and they are… not great. Especially for Andrew Hall of Phibro fame, who, if he is in fact God, is proving the almighty rather fallible. Read more »

Performance Watch ’13: Tudor Tensor

August performance. Read more »

“You will never see as many great women investors or traders as men. Period. End of story. And the reason why is not because they’re not capable. They’re very capable. Like, one of my No. 1 rules as an investor is as soon as my manager, if I find out that manager is going through divorce, redeem immediately. Because the emotional distraction that comes from divorce is so overwhelming. The idea that you could think straight for 60 seconds and be able to make a rational decision is impossible, particularly when their kids are involved…Take a girl that was my age [20s] at that point in time, particularly back in the 70s. I can think of two that actually started E.F. Hutton with me. Within four years, by 1980, right when I was getting ready to launch my company they both got married. Then they both had, which in my mind is as big of a killer as divorce is, they both had children. And as soon as that baby’s lips touched that girl’s bosom, forget it. Every single investment idea, every desire to understand what’s going to make this go up or go down is going to be overwhelmed by the most beautiful experience which a man will never share about a mode of connection between that mother and that baby. I just see it happen over and over.” [BI]

Earlier this week, we had a little chat about letting your hair down in the summer months, but not so much that you get a reputation among colleagues and/or law enforcement officials. For example, while you should definitely allow yourself to enjoy some adult beverages during leisurely outdoor lunches and cut out early to grab a few or more with coworkers you actually like, you don’t want to have so many drinks that you drive a car through a stranger’s house. To that end, while you should certainly feel comfortable dancing atop a bar nobody’s watching, you might want to consider not getting up on table at a restaurant and (allegedly) destroying thousands of dollars in lighting fixtures while demonstrating a roundhouse kick or the moves you’ve been practicing for your Rockettes audition. Read more »

These days, Sonia Jones, at 44, is a walking advertisement for the physical benefits of Ashtanga. She’s slim, but in a toned way rather than an annoyingly skinny one. Blonde and tan, she is warm and ebullient, more earthy Australian than uptight Greenwich grande dame. Every morning, she does her practice in a sunny studio—decorated with pictures of Jois and his family—in her Greenwich house, overlooking Long Island Sound. She’s so committed to Ashtanga that, if you’re in her life, you have to do it, too…All of Sonia’s children practice—from Chrissy, who is a student at Stanford, to Caroline, who is a singer-songwriter attending New York University, to Dorothy, who’s in high school, to Jack. (Sonia admits that she has to bargain with 15-year-old Jack by telling him that if he does his practice he doesn’t have to read.) Paul does Ashtanga, too, although he gets to take the summers off. [Vanity Fair/Bethany McLean]

Dear Tudor, RenTec Investors

January performance. Read more »