Bruce Stanley Kovner's first trade was in soybean futures contractsin 1977 for $3,000, using money borrowed against his MasterCard. The contracts grew to $40,000, and he then watched the contract drop to $23,000 before selling. He later said that this first, nerve-racking trade taught him the importance of risk management.
In his role as a trader under the legendary Michael Marcus at Commodities Corporation, he reportedly made millions and gained widespread respect as an objective and sober trader. This led to the establishment of his company, Caxton Associates, in 1983, which today manages over $10 billion in assets and has been closed to new investors since 1992.
He is the founder and Chairman of Caxton Associates, LLC, a hedge fund which uses a global macrostrategy and is considered amongst the worlds top and largest 10 hedge funds with an estimated $14 billion in assets.
His Caxton Associates despite the large amount of assets under management is known to be amongst the top 25 most enigmatic and secretive hedge funds globally.