Chris Pia, Ex-Moore Capital Profile
-ran $20 million for Shearson when he was 21 years old in 1988
-2 years later joined Louis Bacon to launch Moore Capital and stayed there for 18 years to $10B in AUM
-as a PM Pia’s book went up 7X from 1996 to 2008
-Left in November 2008 to start a fund with Joe Niciforo (ex-Tudor). They raised $800 million
-”Louis taught me to get out when the market moves against you by even a modest amount and to avoid getting emotionally attached to your positions”
-Pia sells any positions that drops 3%
-typically holds his positions for 3 weeks to 3 months
Calls
-Short dollar -10% vs. Euro: China and other Asian exporters are maxed-out on their dollar reserves. They will diversify into gold and the euro as they worry about U.S. inflation
-Gold to $1300: smart play under market crises, populist appeal, and central banks buying
-Oil $70-100: Oil now goes up with stocks. He predicts oil with swing between $70 and $100. So buy at low end and sell at high end of this range
Source: Fortune