Bond Manager Stewart Cowley Hates His Job

Author:
Updated:
Original:

But loves his paycheck.

Stewart Cowley manages $1.5 billion in the Old Mutual Global Strategic Bond Fund. One place he generally avoids investing that money: bonds….

"I'm the bond manager who doesn't like bonds," he says, sitting in the modern London headquarters of Old Mutual Global Investors, a unit of Old Mutual PLC, which is a venerable City institution with roots going back to 19th-century Cape Town, South Africa….

Mr. Cowley has gone into hyperdrive with a highly unorthodox strategy: He has taken large negative positions on major government bonds by "shorting" (or betting against) contracts tied to the bonds' future performance….

Mr. Cowley left academia for the City in 1987. Hearing tales of riches from an economist (who was also his band's drummer), he headed for the careers department at Oxford University and signed up for a job as a broker.

Stewart Cowley, the Bond-Fund Manager Who Can't Stand Bonds [WSJ]

Related

Hal2000.SAC

Hedge Fund Manager Engineering His Own Obsolescence

Muhammed Yesilhark is this close to turning things over to 40 electronic versions of himself.

Wait, what? (Sullivan & Cromwell)

SEC Chairman-Designate Pretty Much Gonna Take His First Year On The Job Off

Jay Clayton is going to give a new meaning to "passive management"

Eike Batista Judge Down One Ride, His Job

Apparently that joyride was more than a little frowned upon.

Everyone Hates Compliance Officers

"The most thankless job on Wall Street" is about to get worse.