Discussion in 'Trading' started by joeyc, Sep 12, 2005.
Is Steve Schonfeld a billionaire?
Check out this list:
These lists are amusingh
I know of at least one that is missing. I wonder how many others there are.
don't see him on the list....
No, not quite yet, but I'd estimate he's almost halfway there.
Not really from the prop trading business, but mostly from investing very heavily in uber-genius Dmitry Balyasny's Atlas Fund.
By the way, the easiest thing to do when meeting Steve Schonfeld (or watching him on TV) is to <b>completely misjudge him</b>. While on the surface he can easily give the false impression that he's an egotistical, cocky, selfish playboy asshole...I'm telling you that while the egotistical part may be true, you could not ask for a more honest and trustworthy man to do business with.
Those numbers are humbling. What the hell does he trade, or should I say how the hell?
Honestly, I wish I knew.
Many of you know that I was Dmitry's first clerk ever. He taught me how to daytrade in '96, back when the entire sum of his career gross trading profits was under half a mil. A devotee of Ayn Rand's philosophy, my name here probably wouldn't be Rearden Metal if not for him. In the following years, I watched him become one of the world's most successful equities daytraders, grossing about 50 mil/year during the heyday of daytrading (1999-2000).
Since he founded his fund and opened his own office, I rarely get to talk to him (Not from lack of desire on my part). Earning 30% annually on AUM over $1 Billion, obviously discretionary equities daytrading isn't the core of his business anymore. I know he was working very hard to compile a team of fundamental analysis researchers. Black box stuff too, like many other hedge funds.
Objectivist traders generally shun ( laugh at, is probably the better term) complex T/A, and Dmitry is no exception.
I wholeheartedly agree with that assessment. I spent almost 10 years there and he was always a great guy to work for.
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