October 27, 2013

What's the latest news about famous investors and traders?

I thought it would be fun to find out what the famous investors and traders are up to these days. Some have retired a long time ago, and some are still working hard with making money from the financial markets.

David Einhorn. He's still trading as usual since he predicted the fall of Lehman Brothers. You can see the latest trades by his company and his view on the markets in this article: The latest trades from David Einhorn.

Ed Seykota. He was one of the pioneers of systems trading and is currently running The Trading Tribe, which is an association of people who commit to excellence, personal growth, and supporting and receiving support from each other. He's still performing "The Whipsaw Song" as seen in this clip from October 2013: Live Whipsaw song by The Ed Seykota. In 2012, Ed Seykota wrote the foreword to the book The inner voice of trading (click on the link to read the foreword). 

Update! There's a new (2014) interview with Ed Seykota available here: Ed Seykota Interview with Michael Covel on Trend Following Radio.

Julian Robertson. He has retired and invests his personal wealth in hedge funds controlled by former employees of Julian Robertson's old hedge fund. But he had also invested in Apple, but he decided to sell his Apple holdings after he read the Steve Jobs biography. The reason was that Julian Robertson thought Steve Jobs was a "really awful" person. "I came to the conclusion that it was unlikely that a man as really awful as I think that Steve Jobs was could possibly create a great company for the long term," Robertson said. "I just don't believe bad guys do well in the long run." (CNBC). 

Michael Steinhardt. In 2004, Michael Steinhardt came out of retirement to work for WisdomTree Investments, where he now is the chairman. The company is currently the industry's fifth largest ETF provider. In an 2009 interview by Bloomberg, it was revealed that he still owns his zoo and you can see a picture of a bird (unknown if it's the blue crane that used to follow him around his mansion). In another interview from 2013, it was revealed that he's not "very long," so he doesn't believe the market will continue to increase (Market folly).


Nassim Nicholas Taleb. He's currently tweeting, writing books, and is a "scientific adviser" at Universa Investments and the International Monetary Fund. In an interview from 2012, he argued that the reason to why banks today are having trouble is because they are too big. The big banks used to be smaller and their employees used to be more paranoid - they didn't want to use any complicated instruments such as derivatives. They hated everything they didn't understand and they hated everything with an equation in it - you need an equation to calculate the value of a most derivatives. The big banks are today more international, arrogant, and the probability they will blow up has increased - as we saw in 2008.

Paul Tudor Jones. He's still trading at Tudor Investment Corporation. In February 2013, Forbes Magazine revealed that he was one of the 40 highest-earning hedge fund managers. He's still fighting the battle against admires who post his documentary, Trader, on YouTube and other video sites. According to a rumor, Paul Tudor Jones hated the 1987 documentary so much that he bought up all the videotape copies in existence and asked the public network to stop airing it. According to Insider Monkey, his fund's holdings included (unknown if long or short) LyondellBasell, AIG, Baxter, Merck, and Wellpoint.

Peter Lynch. He's currently working with The Lynch Foundation. Established by Carolyn and Peter Lynch in 1988, it provides assistance to programs primarily in Massachusetts with an emphasis on education; culture and historic preservation; healthcare and medical research; and religion. You can see a recent interview with them here: Growing tax free. Peter Lynch used to control the Magellan fund, but the fund is now in decline. Between 2000 and 2012, the fund had net withdrawals of more than $63 billion, topping every other mutual fund (Wall Street Journal).

Richard Dennis. According to Wikipedia, he has been active in Democratic and Libertarian political causes, most notably in campaigns against drug prohibition. 

Salem Abraham. He's still trading from Canadian, Texas. The return are available on his company's website:
  • 2013: 1.91% (9 months)
  • 2012: -5.60%
  • 2011: -5.10%
  • 2010: 8.56%
  • 2009: -5.55%
  • 2008: 28.80%

Nick Lesson. He's the most famous rogue trader. Barings Bank collapsed thanks him when he had lost £827 million ($1.3 billion) from futures contracts. If you want to learn more about Nick Leeson, you can watch the movie Rouge Trader or read the book with the same name. Nick Leeson was released from prison in 1999 and is now a speaker about risk and corporate responsibility. You can visit his homepage here: NickLeeson.com

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