Macro Funds That Lamented Boring Market Lose in October
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Hedge-fund managers Paul Tudor Jones and Michael Novogratz said in May that calm markets made it hard to make money.
In October, investors that bet on macro-economic themes got their desired volatility. By the end of the month, some of the biggest managers, including Ray Dalio’s Bridgewater Associates LP, Fortress Investment Group LLC and Jones’ Tudor Investment Corp., posted losses. The strategy had its worst performance in more than a year and two smaller firms said they were shutting.