(Bloomberg) — Macro trader Chris Rokos made the most out of a widespread rally in asset prices Wednesday as Donald Trump’s re-election reset market expectations.
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His Rokos Capital Management reaped almost $1 billion of profit that day, one of his best trading sessions since he started the hedge fund firm in 2015, according to people with knowledge of the matter. While the so-called Trump trades helped, Rokos also made money across asset classes, said one of the people, who asked not to be identified because the details are private.
The jump added to the hedge fund’s gain of about 20% this year through October and lifted assets under management to about $19 billion, one of the people said.
A representative for the London-based firm declined to comment.
Stocks hit record highs, US Treasury yields jumped and the dollar logged its best day since 2022 as investors mapped out what Trump’s return to the White House means for Wall Street.
Another macro trading firm, Jeff Talpins’ Element Capital Management, has now gained about 4% this month so far, including profits from Trump’s win, another person said. The firm, which was up about 10% through October, had wagered on gains for the greenback and US stocks, while making short bets against European equities — trades that did well on Wednesday.
Rokos co-founded Brevan Howard Asset Management in 2002 before leaving to start his own firm, which is now one of the world’s biggest macro hedge funds. His net worth is an estimated $1.9 billion, according to the Bloomberg Billionaires Index.
(Updates Element’s gains in penultimate paragraph.)
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