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| A Gambler Who Cracked the Horse-Racing Code (bloomberg.com) | ||
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| theunixbeard Apr 13, 2021 | on: Trader Jeff Yass Parlayed Poker and Horse Race Handicapping… | context |
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When researching hedge fund jobs I had heard of the Susquehanna International Group (Jeff Yass’s firm), but never knew their story until reading this article.
In addition to trading, SIG now is a major venture capital investor. They put some of the first money into ByteDance (TikTok parent company), and parlayed a few million dollar investment into a stake worth billions.
Yass, a libertarian, just got a new futures contract approved that is based on USA tax rates. As a way for people and firms to potentially hedge on Joe Biden (or a future president’s) potential tax increases.
Lots more interesting stuff in this detailed, well-written history.
EDIT: This article reminded me of another great gambler-turned-investor story from HN here: https://news.ycombinator.com/item?id=16985413