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Would you work 20-hour days for US$300m?

7 May 2008

This is what Greg Coffey, the Aussie hedge fund trader who’s now based in London, apparently does.

Coffey was big news last month when he left hedge fund GLG – giving up $250m in GLG shares in the process – to go it alone.

But, according to the London Times, he doesn’t get much time to do anything with his money, and spends 20 hours screen trading every day.

Even when Greg leaves London for a Coffey break with his family, his hardware takes the trip too. Having his gear there means he can trade through the night, so he doesn’t lose while his wife and kids snooze. If this sounds all too familiar, then maybe your job is becoming your life.

Is being like Coffey the way to get ahead? Can you succeed in finance and still have a life?

Comments (15)

I would because I think that you have no choice really as if you have stock in companies that are listed on foreign markets then in real terms the market never closes. If the market never closes then you could go broke while you sleep.

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Comments (15)

  • where can i sign up

    sam 08 May 2008

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  • That's extreme. Why not work 10 hours per day for $150 mil or even $100 mil. I believe in "work to live" not "live to work". Greg could live quite comfortably on a third of his current wage!

    Daniel 08 May 2008

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  • if a comfortable chair, why not ? In mine i think should be difficult...

    agostino 08 May 2008

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  • Simple answer, no.  Its all a trade off. Greg is making much money and getting kudos for his work in lieu of time and balance. However, some day soon, he will be in a place where he can make the choice in life to leave that stress and schedule behind and still be young enough to make it up to his wife and kids.  He seems like a foot on the floor kind of guy. After a long career in that field I would say if you can keep your ego in check and not get carried away with your own publicity and what is an unreal life, the rest will eventually fall into place.

    FRA 08 May 2008

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  • You reap what you sow.  If you don't put time into being with those you care about, they won't care about you.

    PHT 08 May 2008

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  • thats unhealthy isn't it....i could probably work for maximum 12 hours 9am - 9pm...i'm dead by 11pm

    mitz 08 May 2008

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  • I would because I think that you have no choice really as if you have stock in companies that are listed on foreign markets then in real terms the market never closes.  If the market never closes then you could go broke while you sleep. Unless you cash out at the end of each day and I think that would be bad too.

    Random Guy 08 May 2008

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  • yes

    hiral 08 May 2008

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  • No not at all...

    ujwala 10 May 2008

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  • It's very honorable to work so hard, and it sounds like he's doing a good job. I take my hat off to him. Personally...I would be in tahiti...oh...that's right...I am. If anyone is short of vanilla beans or coconuts drop by sometime.

    Monsieur Surfer 11 May 2008

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