For fun, Curtis Macnguyen runs in 15 feet of water along the ocean’s edge, carrying a boulder.
The hedge fund manager, described as “old school,” is a former hedge fund star, and that is not acceptable to him. His low-risk fund did not do well after the Federal Reserve funded the market with money during the recession. Index funds pounded him.
But just like any guy who carries rocks under pressure, Macnguyen believes in hard work, almost no big sprints and steady progress. If one thing gets his goat, it’s probably the lack of respect he receives for making money with so little risk.
“We try to find really good setups,” he says, “where you have to be a little bit right to make a lot of money and a lot wrong to lose a little bit of money.”
Here lately, the victories are adding up for him. Making big money with low risk isn’t easy. Neither is carrying boulders underwater.
— Adapted from “Something to Prove,” Anthony Effinger, Bloomberg Markets.