Hedge fund pioneers face signs of a reckoning

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4 • 350 Ratings

🗓️ 21 February 2024

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Billionaire financiers such as Ken Griffin pioneered what’s known as the multi-manager model for hedge funds, where big spending begets big returns. In 2022, Griffin’s Citadel became the best-performing hedge fund of all time. But now, cracks in the sector are beginning to form. The FT’s Harriet Agnew and Ortenca Aliaj examine what a downturn could mean for investors and the broader financial sector.

Plus, do you have a question about markets, finance or economics? Get in touch with Michela, and we may use it in an upcoming joint show with Unhedged.

Email Michela at [email protected], or message her on X at @mtindera07.

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For further reading:

Are hedge fund pioneers facing the end of a golden era?

Bobby Jain’s hedge fund launch falls short of $8bn-$10bn target

How Ken Griffin rebuilt Citadel’s ramparts

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On X, follow Harriet Agnew (@HarrietAgnew), Ortenca Aliaj (@OrtencaAl) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

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Transcript

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0:00.0	Am I missing anything? Is this the right decision?
0:02.0	Can I show this data?
0:04.0	Am I too late?
0:05.0	Find clarity in your investment decision-making.
0:08.0	Manage your portfolio for sustainable growth
0:11.0	and regulatory alignment
0:12.0	with the ultimate blend of powerful AI and
0:14.6	industry expertise.
0:16.5	Reduce risk, meet your sustainability goals and push the boundaries of possibilities based on
0:21.1	facts, not opinions.
0:23.0	Clarity AI scaling human decisions through tech.
0:26.6	Visit clarity.
0:28.0	AI and take action today.
0:30.7	Hey there, it's Michaela. I have a short note before we get started.
0:35.0	Later this year, behind the money will be teaming up with our friends over at the FT's Unhedge
0:39.5	Podcast for a special episode featuring you.
0:43.0	If you have a question about markets, finance, or economics,
0:47.0	send it in and we might answer it on the show.
0:50.0	To get in touch, you can reach out to me directly. My email and contact details are in the show notes.
0:56.1	I'm excited to see what you send in. So with that, let's jump into this week's episode.
1:10.0	A little over a year ago, a hedge fund executive named Bobby Jane was feeling stuck. For years, Jane had climbed his way up through finance.
1:13.3	The FT's Hortense Alii tells me that he worked at Credit Swiss,
	...

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