Art manager

Hedge fund manager with Instagram bikini moves to London

No one with common sense wants to go back to the days doctors nearing retirement call “Old Town,” with its daily cocktail of alcoholism and nepotism, lax labor practices, and abhorrent treatment of women and minorities. . But on the other hand, there is a distinct lack of joy about modern industry; too many people act like they’ve been doomed to funding. London needs the likes of Bill Perkins, who is setting up a new hedge fund office there, to show them how to have a good time.

Perkins is a legendary natural gas trader, who has run Skylar Capital for ten years in Houston. He has been described as “The Last Cowboy” for his intuitive investing style, making big directional bets and tolerating volatility rather than letting quantitative models generate small gains. According to Bill, “You can’t pay me enough to sit in front of a screen and ruin my life.” And that’s definitely how he lives.

In 2017, her Instagram was described as “famous for photos of her Caribbean-based yacht filled with women in bikinis.” Looking at it now, there are still plenty of water toys and party pics, but there’s more of an adult vibe; he married for the second time in 2020. He also appears to have given up on producing movies like After.Life and The Baytown Outlaws (a look at reviews of those might also suggest why). But he’s written a book called ‘Die With Zero’ laying out his philosophy of life and money management, and it’s in the form of an anti-savings personal finance guide pointing out that if you have 250 $000 in savings at age 75 is at least $200,000 in experiences you missed. Or in Bill’s case, why paying $15,000,000 for a $200,000 photo might be worth it if you really want it. He also claims on his website that he spends much of his time traveling to poker tournaments and running his business from a yacht via a smartphone.

As an approach to life, it’s…fun, but perhaps not suited to modern modes of institutional allocation. It appears that the current fund in London will be managed by Nathan Arentz and part of the team he led as head of Glencore’s natural gas trading operations. We don’t know how hedonistic he is, but his recommendations on LinkedIn don’t seem to include “wakeboarding in St Barths” or “funding poorly-reviewed thrillers.” Skylar Capital may only really be the busiest hedge fund in town when the boss is visiting.

Elsewhere, Tarun Chitra of encryption software provider Gauntlet shares some of Bill Perkins’ attitude. A former Wall Street high-frequency trader, he says his fellow quants “don’t want to do something with a tiny amount of risk” and that “life is a little too short to always be focused on it.” But lacking Perkins’ enormous cushion of wealth (and, perhaps, not quite the same cowboy swagger), he took advantage of a quirk in the quantitative job market to slash the risk of starting his own business.

This quirk is that quantitative trade stores, because they are extremely paranoid about their intellectual property, tend to impose very long notice periods and no competition. In Chitra’s case, that meant he could spend two years getting paid his salary from Vatic Labs, while figuring out if he would be able to turn his passion for crypto into a viable business. Its co-founder Rei Chiang was also a former quant, and it seems that they were able to reunite almost all of the early employees simply by phoning the social network of former quants who had decided to take a break and who were sitting around collecting money from their non-competition.

The phrase that comes to mind is “good job if you can get it”. Obviously, if you’re going to do something like this, you need to make sure that your startup definitely won’t be seen as a competitor, which might become less likely if crypto becomes more integrated into the financial system. . But as a benefit of quantum life, it’s worth bearing in mind; it might even be worth highlighting for HFTs who want to compete with tech startups for top talent.

Meanwhile …

Maybe it’s the changing natural gas prices, maybe it’s the gradual development of the local financial hub, but Bill Perkins’ home state is becoming more and more rewarding as a place to work. Salaries in Austin, Houston, and other major cities in Texas reach the same kinds of average levels that are typically seen in New York and Silicon Valley. (Bloomberg)

Aureus Asset Management’s Karen Firestone had one of those “Zoom call moments,” as her dogs barked uncontrollably and an unidentified man in his underwear walked around in the background of her interview with CNBC. (Daily Mail)

Case studies and even written exams are not uncommon in graduate training programs, but if you want to join Goldman Sachs’ wealth management team, you apparently have to go through frequent “verbal dexterity” sessions. , which aim to take business school graduates and teach them to ditch the lingo and stop talking like an idiot. Most customers are baby boomers, so you need to be trained in how to leave a voicemail, too (Business Insider)

Senior bankers and asset managers had to report more than 700 cases of “non-financial misconduct” last year. About 600 of them were related to breaches of COVID regulations. (Bloomberg)

Ken Griffin’s neighbors in Palm Beach are apparently angry at the “oversized” mansion and compound he’s building for his mother. Legal filings complain about the potential effects on neighboring billionaires’ access to the beach, but it’s hard not to suspect they’re just hurt by being constantly reminded that there’s someone richer than them. ‘them. (New York Post)

Another billionaire banker with a mansion is having less fun – Petr Aven is subject to penalties, so he has to get a court to agree to unfreeze his accounts so he can pay for his ‘basic needs’. In context, that equates to $140,000 a month, much of which is spent on insuring and securing his art collection. (Bloomberg)

Photo by Volodymyr on Unsplash

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