Would you put your life on hold to become a hedge fund trader?
No? Well that’s a shame, because that’s what it takes – particularly if you want to work for a global macro fund. This week’s Wall Street Journal article on the $300m of stock allocated to Fortress analyst Adam Levinson, divulged a few things about Levinson’s punishing lifestyle.
According to the WSJ, Levinson’s up at 5.10am and at work by 6.10am each day. He has an hour off at 4pm and works each evening to prepare for the opening of the Asian markets. He’s in bed by 10.30pm, but is woken as many as seven times each night by ‘calls.’
Levinson isn’t the only one putting the hours in. Greg Coffey, the star trader who left GLG earlier this year to set up his own fund, is rumoured to work 20 hour days. According to Financial News, Coffee turned over his $5bn portfolio an average of 2.8 times a day in May.
Is hedge fund trading worth the hassle? Feel free to debate into the night below.