So what? Paul Tudor Jones is busy doing other things and simply doesn’t have the time to manage money aggressively anymore. The fault lies with his moron portfolio managers, who seem to be dropping like flies as of late.
Co-President (WTF is that?), Michael Riccardi, is leaving after three years. Portfolio managers, Spencer Lampert and John De Palma, joined Mark Heffernan in either firing themselves, quitting or retiring from the firm over the past year.
Clearly, there is a shake up underway at Tudor, most likely due to the lackluster results.
His main fund was down 2.8% in the first quarter. It even lost money in March, if you could believe that. Over the past two years, his flagship fund of $13 billion made 1.4 percent in 2015 and 3.5 percent in 2014. As such, it’s being reported by Bloomberg that $1 billion or so has been drawn from Tudor, in the form of face slapping redemptions.
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