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Hedge-Fund Refuge Sought by Traders as Banks Cut 233,000 Jobs: Commodities

From bloomberg.com

Damien Bombell left JPMorgan Chase & Co. (JPM) a year ago after the largest and most profitable U.S. bank shut its group trading commodities for the company’s own account. Now chief investment officer of his own hedge fund, he’s hiring four people before accepting money from investors next month. “I can’t say there’s anything I miss about banking,” said Bombell, who turned 40 last week and plans to have at least $200 million under management at the Strand Global Macro Fund in Zug, Switzerland. “I have more freedom.” Traders in energy, metals and agriculture are opening or joining hedge funds after leaving ... (full story)

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