Balyasny Asset Management

Hedge Fund Legend’s Best Ideas Frankly Not Very Good

By SimpleIcon http://www.simpleicon.com/ (http://www.flaticon.com/packs/simpleicon-business) [CC BY 3.0 ], via Wikimedia Commons Ten years ago, as the hedge fund industry was roiled by the financial crisis, the brain behind Balyasny Asset Management had an idea. Sure, I’ve got dozens of teams trading all sorts of strategies, but let’s be honest: All people want from Balyasny Asset Management is more Balyasny. All Balyasny, if possible. And if that’s what the people want, that is what they shall have, in the form of the Atlas Fundamental fund, giving investors “direct access to Dmitry Balyasny” and his very best ideas. Ten years later, it seems no one wants “direct access” to Balyasny’s best ideas, as they have pulled all of their capital from Atlas Fundamental. This is probably because Bal...

The Poached Becomes The Poacher

A couple of years ago, Ken Griffin had a little bit of friendly advice for his buddy Steve Cohen, who—potentially on account of the unfortunateness—was having a little trouble finding non-idiots to yell at and humiliate. That advice was, “take it from somebody else,” with the unspoken addendum of “especially if they’re having some reputational problems… oh, wait, you can’t. Sorry.” History has not recorded Cohen’s undoubtedly understated and not-at-all roaring spit-geyser reaction to that bit of Windy City shade-throwing. Suffice it to say he was only too happy to take Griffin’s advice in staffing up his burgeoning quantitative efforts with one of Ken’s own. And now that KG is having his own staffing issues, the Big Guy would like to note that he’s having to beat the top-notch talent flock...