31/05/2016
Who is Bruce Kovner ?
Kovner drove a cab to pay the rent, took harpsichord lessons at Julliard and dabbled at a succession of pursuits while seeking this true calling. In 1976 he found it: currencies and futures speculating.
Bruce Kovner, born in 1945 in Brooklyn, New York, didn’t make his first trade until 1977 when he was 32 years old. He borrowed against his personal credit card at that time to buy soybean futures contracts and netted a $20,000 profit. He subsequently joined Commodities Corporation as a trader, booking millions in profits and gaining a solid industry reputation.
He founded Caxton Alternative Management in 1982, transforming it into one of the world’s most successful hedge funds, with more than $14 billion in assets. The fund’s profits and management fees, split between commodity and currency positions, made the reclusive Kovner one of the biggest players in the forex world until he retired in 2011.