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Morning Coffee: 21 year-old trader makes $44k a month, works 1 hour a day. Freelance hedge fund consultants

Elijah Oyefeso earnings

Buy a Bugatti, work for half an hour after lunch

How much does 21 year-old Elijah Oyefeso really make? By his own account it’s a lot.

Oyefeso, who featured on Monday night’s UK Channel Four TV Programme ‘Rich Kids Go Shopping,’ purports to work one hour a day and claims to earn £20k to £30k ($30k to $44k) in a bad month. Unlikely as this may seem, Oyefeso substantiated his claims (sort of) by making £1k in 15 minutes while the cameras watched.

His secret? Self control. “I’ve been trading for three years, I know when to stop,”  Oyefeso declared. He’s also highly averse to making losses: “When you lose it, you get back up. If you lose 12 times, you get back up 12 times,”  Oyefeso added.

Is Oyefeso for real? We can’t say. However, he runs a trader training academy called DCT Training (which doesn’t seem to have its own website) for anyone who wants to watch his techniques and find out.

Separately, if you’ve always wanted to concoct trading strategies for top hedge funds whilst swinging in a hammock in St. Lucia, you can do that. Freelance strategy consultants to hedge funds are nothing new – we first reported on the phenomenon back in 2010, but the Wall Street Journal has unearthed an actual member of the species. 54 year-old Ari Bergmann provides under-the-radar strategy ideas to the likes of Steve Cohen, Brevan Howard, and Third Point. Bergmann specializes in derivative trades and takes a cut of the profits, if they materialize. Unfortunately he doesn’t work beneath a tree in the Bahamas, but in an office next to a dental surgery in Manhattan.

Meanwhile:

2015 was good for M&A bankers but bad for everyone else in IBD. (Reuters)

NRG Capital Partners, the energy advisory boutique set up by Barclays’ former global co-head of natural resources Julian Vickers, just hired Dave Navarro from Evercore. (Financial News) 

Laurent Curtat, a managing director, who had been Credit Suisse’s head of European rates trading, left at the end of December. (Financial News) 

Barclays is probably making 50 people redundant in Asia. (Reuters)

No one wants to hire the Barclays bankers in Asia. (Finance Asia)

When hedge funds call it a day: ““We have come regretfully to the conclusion that the current algorithmically driven market environment is one which is increasingly incompatible with our fundamental, research orientated, investment process.” (Bloomberg)  

Blockchain consortium now hiring. (Finextra)  

Goldman Sachs shuffled some people around and hired Adam Savarese, the ex-head of U.S. distressed trading at Morgan Stanley. (WSJ) 

Peak coffee time is between 9:30 and 11:30am. (QZ)

If you don’t get a window seat at a top London restaurant it could be because you’re too ugly. (Evening Standard) 

The median price of a condominium in Manhattan? $1.15m. (Bloomberg) 

What to wear when you power lunch at the Four Seasons. (NY Times)


Photo credit: Bugatti Veyron by BastiaanImages is licensed under CC BY 2.0.

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