Illustration: George Wylesol
Traders Are Ditching Giant Hedge Funds to Set Their Own Terms
Some are eschewing multimillion-dollar pay packages and access to billions of dollars in firepower
Michael Alfaro was about to become a father and launch his own hedge fund when he got the kind of call that’s familiar to high-performing traders: A recruiter at a large multistrategy fund wanted him to give up his dream of independence and join them.
Soon, the recruiter took a different approach, finding Alfaro a night nurse so the expectant parent could focus on making his decision.