Hedge Fund Trader Michael Platt Made $2 Billion In 2019 Without Any Clients

[dealmaker]

Hedge Fund Trader Michael Platt Made $2 Billion In 2019 Without Any Clients (Forbes)
Four years ago, Michael Platt decided to go it alone and close his hedge fund firm, BlueCrest Capital Management, to clients. But Platt kept BlueCrest’s trading teams and continued to speculate in financial markets using his own personal wealth. Last year, BlueCrest’s trading operation returned 53.5% net after expenses and made Platt about $2 billion. The majority of BlueCrest’s returns did not come from trading equities, which surged last year, but from significant long fixed income positions early in 2019, according to a person familiar with the situation.

 

[Turveyd]

B2 Stealth bomber please!! or maybe a Destroyer.

Why does anyone need 2BILLION, sure I could blow 5Mil pretty quick, but never get through that.

 

[MarketDiver]

Just curious, how did they make 53% from fixed income?
I am assuming that fixed income would generate about 2-3% or a little higher in different regions.

 

[Specterx]

Just curious, how did they make 53% from fixed income?
I am assuming that fixed income would generate about 2-3% or a little higher in different regions.

They didn't buy for the coupon, they took a presumably leveraged position in bonds or bond futures and rode the uptrend through 2019. Though the Austrian 100-year bond returned 70% or something even without leverage...

 

[Nighthawk]

Hedge Fund Trader Michael Platt Made $2 Billion In 2019 Without Any Clients (Forbes)
Four years ago, Michael Platt decided to go it alone and close his hedge fund firm, BlueCrest Capital Management, to clients. But Platt kept BlueCrest’s trading teams and continued to speculate in financial markets using his own personal wealth. Last year, BlueCrest’s trading operation returned 53.5% net after expenses and made Platt about $2 billion. The majority of BlueCrest’s returns did not come from trading equities, which surged last year, but from significant long fixed income positions early in 2019, according to a person familiar with the situation.

Sweet!

I am not yet close to that figure. But last year was "very friendly" to vola "lovers".

 

[Pekelo]

Makes you wonder, if you already have 4 B, why would you need clients anyway?

 

[buttermarket]

now why would he publicly disclosed he made 2 billion? promoting himself to start another fund for clients. the IRS would be on his back okay. and he paid the news wires to tell everyone? Can I see his tax return show he made 2 billion in profit? you believe everything you read in the news.
management fees of hedge funds is easy money.

now if he did make a profit..he probably keep it a secret..who goes the public and tell everyone how much they made?

 

[masuriaBLR]

Just curious, how did they make 53% from fixed income?
I am assuming that fixed income would generate about 2-3% or a little higher in different regions.

they use 13x leverage on fixed income and also trade derivatives products. that's a fact from a form PM. hope that is helpful.