Greg Coffey, the former star GLG Partners trader who resigned and then un-resigned and then resigned again to go work for Louis Bacon, who called him “the most impressive trader I’ve ever seen,” before retiring a few years later, is un-retiring.
Coffey is considering launching a new fund with James Saltissi, people familiar with the matter told Business Insider. The fund could launch as soon as March, some of the people said.
Coffey took his leave of Moore and his 20-year hedge-fund career as investors fled his macro vehicle at Moore amidst some rather un-Coffey-like losses in 2011 and 2012. There was the usual boilerplate about wanting to spend more time with his family and, less usually, wanting to spend more time back in his native Australia. But the real problem, according to Coffey, was that a 9% gain in one month to nearly erase his year-to-date losses didn’t get the blood flowing like it used to.
We don’t know if the pleasures of family life have similarly lost their charm, or if he’s sick of shooing the dingoes off his lawn, or if he’s started trading some highly-volatile imaginary assets whose soaring prices have got him all riled up again. Whatever it is, we welcome the “Wizard of Oz” home.