Former hedge fund trader on Wall Street, Turney Duff led a truly extravagant lifestyle. He published a book about his experiences in 2013, The Buy Side. Now, he’s a consultant on the Showtime TV series, Billions.
This episode covers everything, starting with the experience of trading more than one billion dollars at Galleon Group, the hedge fund run by Raj Rajaratnam – who is now serving an 11-year prison sentence for engaging in one of the largest insider-trading rings in U.S. history.
Next, we cover Turney’s relationships with the sell-side and the radical measures they would go to tin order to win his business. These extremes lead to the after-hours shenanigans of drugs, alcohol, sex, money, and power.
Finally, we talk about Turney’s tumble from the top, his greatest realizations, and the life he leads now…
What’s Covered in This Interview:
- Turney’s first job on Wall Street as a sales assistant at Morgan Stanley and how he got it; as well as his transition to the Galleon Group (an infamous hedge fund known for insider trading).
- The most notable trades Turney’s career, and how gathering information gave him an edge (one that could be described as a gray area operation).
- The full ‘wining and dining’ experience of having the sell side go to extreme measures to win the business of a billion-dollar fund manager.
- Developing an addiction to cocaine, Turney’s most memorable party nights, and what life was like after the lights came on.
- Turney’s tumble from the top, his time spent in rehab, the loss of approximately $10-million in career earnings, and finally the pursuit of happiness.
Links and Resources:
- Edgewonk.com [Use coupon code “TRADERS” to save $20]
- Buy Side [Audiobook – FREE]
- Buy Side [Book]
- TurneyDuff.com
- Follow @TurneyDuff on Twitter
- TradeStation connects traders with all the bells ‘n whistles to better monitor and participate in markets.
