Remember the excitement and anticipation in the days and weeks after President Trump’s shock election victory? You know, if you focused only on the sheer amount of money to be made and not on the fact that a dangerous, ill-informed boob was about to become the most powerful man on the planet? Rubicon Fund Management sure does. Careening towards a damn-near catastrophic year, with losses in excess of 20%, the London-based hedge fund made up all of that and thensome in the month after Trump’s triumph. In the process of Making America Great Again, President Trump would also make global macro trading Great Again, at least for Rubicon.
Even more than bank trading desks, however, Rubicon really needed a Trump election every quarter. Or every month, if possible. Alas, it isn’t, and Rubicon seriously mistook how Trump planned to MAGA vis-à-vis the dollar. And, well…
Rubicon Fund Management, a large London hedge fund focused on trading around global economic events, has suffered a 33.2% loss in its flagship fund this year….
In a July letter to investors reviewed by Business Insider, founder Paul Brewer attributed about half of the year’s losses up until that point to wrong way bets on currencies….
The fund did say that it believed prices for dollars would increase in coming months, however.