market folly

Tudor Investment Corp, the global macro hedge fund firm ran by legendary trader Paul Tudor Jones has opened its Momentum Fund. The fund, ran by Steve Evans (who also runs their Tensor fund) will trade in all sorts of futures markets. Both the Tensor and now Momentum fund use computer models and Steve Evans has seemingly done well for himself. Tudor's futures fund returned 36% last year in a market covered in red and the Tensor fund has seen 15% returns each year since it began trading in 2005.

There has been some shuffling around at Tudor as they continue to go about business. They still of course have their main flagship BVI Global fund that finished 2008 -4.5% as noted in our 2008 hedge fund performance numbers. But, James Pallotta, who was in charge of their equity focused Raptor fund has left Tudor to start his own fund. Just a few weeks ago, we noted they were shuffling around their equities portfolio as they amended numerous filings.

For insightful thoughts from Paul Tudor Jones himself, head over to our post on Hedge Fund manager interviews or our post on quotes from PTJ.