Bridgewater Is Still Down. But Other Macro Funds Are Posting Big Gains.

Brevan Howard and Tudor remain profitable, while Bridgewater’s funds are still solidly negative.

 (Jeenah Moon/Bloomberg)

(Jeenah Moon/Bloomberg)

Macro hedge fund managers’ fortunes have sharply diverged in 2020.

Take Andrew Law’s Caxton Associates. The firm posted another month of strong gains in what is shaping up to be the macro specialist’s best year since taking control of the firm from legendary founder Bruce Kovner in 2011.

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