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Monroe Trout – a longtime hedge fund manager

Munroe was a follower of the fundamental principles of Ayn Rand, from his early days of trading in 1978. In his heart, this philosophy is based on the idea that our ultimate goal in life is the pursuit of our sob solely happiness is nothing but self-interest. It is difficult to measure how Objectivism is responsible for his success in trade. By the time of his graduation from Harvard, he wrote his final thesis on market stock-index futures (price movements in the market of stock-index futures). Essentially, Munroe – former captain of the basketball team of Harvard University -There clear vision that wants to become a trader in this full-time since 1984, both on the floor and beyond.

Munroe, a student of Victor Niederhoffer seems to be withdrawn because now living in Bermuda. He mastered the short-term trade and development strategies. In the past story of Barron was reported that he managed $ 400 million dollars in 28 years. He funded Rand Financial Services, company performance and clearing of futures and options held by Bermuda-based Tewksbury Investment Fund.

Some interesting vignettes from Trader’s life can be read in “Wizards of markets”, as the day in which he was on the floor, when Secretary of State James Baker had a meeting with the Foreign Minister of Iraq, Tariq Aziz in January 1991, trying to prevent the “Gulf War”. When James Baker began a press conference after a meeting with the words “Sorry …” markets exploded, gold, crude oil and refined products jumped and stock indexes sank and Munroe lost $ 9.5 million in seconds. But this can not overshadow his astonishing record for over 5 years with an average of 67% return annually! In the book he explains how taillights and strict monitoring of restricted losses have contributed to its success by sharing one of its rules: “Close all open positions and stop trading until the end of the day / week / month when a predetermined loss of the portfolio is reached “. Many believe that Munroe has the best Sharpe ratio.

In January 2002 Reuters published the following about him:

“Monroe Trout, one of the most successful hedge fund managers in the world, plans to retire from business and hand over the reins of Trout Trading Management Co.Ltd. of its Executive Director.
39-year-old manager of hedge fonda left the firm after otchel13,6% profit in 2001 because he wanted to spend more time with his family. “

Matthew Tewkesbury, CEO of Trout Trading, will take control of the $ 3-billion of Bermuda-based hedge fund on 1 April. Tewkesbury now runs the business day to day, and Trout will continue to act as a consultant to the company. Trout has achieved one of the most notable results in the industry, publishing an average annual gain of 21.5% without loss since the company was created 14 years ago.

Trout, considered by some quantum trader, while others think it discretionary, also leaving at a time when many senior managers of hedge funds closed their doors. Last year, the founder of Bowman Capital Larry Bowman said that personal preferences and market pressures have impelled to close the fund. But in the case of Trout “This has nothing to do with bad performances, but the opposite,” says a source close to the company.


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