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Morning Coffee: Paleo-dieting trader makes $90m profit. New pay figures for Goldman, JPM, Citi, BAML

Captain Caveman

Captain Caveman

Now that it’s January and NYE, NYD, Christmas Eve, Christmas, the intervening period between Christmas and NYE, and office parties are all over, you might be inclined to go on a diet. Specifically, you might be inclined to go on the paleo diet, which mimics the dietary fads of cavemen and involves giving up alcohol – particularly as one paleo-dieting trader had an excellent 2013.

The Wall Street Journal reports that Chris Tuohy, a senior trader working at Tudor Capital’s outer-London-mansion-office, turned a $10m bet against gold into $100m last year. Tuohy, who is reportedly known in trading circles for his observation of a paleo diet, bet on gold falling early in 2013 even when most investors were still bullish. Gold dropped 28% during the year, and Tuohy profited. He’s now on track for a bonus of up to $10m. It’s unclear whether he will spend this on a loin cloth and large stack of nuts.

Separately, following Goldman’s recent UK pay disclosure for 2012, other banks have followed suite. While Goldman paid an average of $4.67m to its UK risk takers in 2012 (up from $2.64m in 2011), Bloomberg reports that Citi paid its UK risk takers $4.1m (up 32% on 2011), that Bank of America paid $2.36m (down 2%) and that JPMorgan paid $3.4m (down 3%).

Meanwhile:

SAC Capital had an excellent 2013 and was up 20% to December 27th. (WSJ)

UK teachers could soon earn £70k in five years, without leaving the classroom. (Telegraph) 

There could be up to 100 new listings on the London Stock Exchange in 2014. (Telegraph)

In the US, graduates are earning $80k a year as top waiters in top restaurants. (WSJ)

The 27 unwritten rules of conference calls. (Daily Muse)

Woman builds multi-million dollar business offering advice on ‘escaping from the man cage.’ (New York Times) 

 

 

 

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