Said Haidar, the Macro Trader Making Bank

Said Haidar, who started his hedge fund business more than two decades ago, specializes in macro trades. He predicts economic trends, then makes leveraged bets on everything including interest rates, stocks and currencies. His success this year has been fueled mainly by shorting rates in the US, the UK and other Group of Seven countries. He bet that bond yields would soar as traders wagered on the pace and extent of rate hikes. Similar trades have led to triple-digit returns from other macro traders such as Crispin Odey and Michael Platt, and Rokos Capital Management and Brevan Howard Asset Management have seen double-digit gains.

Jupiter now has $5 billion invested in it, up from $1.2 billion at the end of 2021. This blockbuster performance has put Haidar in the limelight, but he’s produced consistent returns for years. A client putting $1 million in Haidar’s fund at its inception would now have $215 million, compared with $4.1 million invested in the S&P 500 and $3.7 million in the average hedge fund over the same period, according to Bloomberg News calculations.