Jen Exits Morgan Stanley With Dollar Smile Going to BlueGold

As a currency strategist and economist at Morgan Stanley for 13 years, Stephen Jen made market calls and forecasts. It was up to clients to decide whether to buy or sell based on his recommendations.

Now, Jen is the one doing the buying and selling. In May, he joined London-based hedge fund firm BlueGold Capital Management LLP to oversee a trading portfolio while serving as managing director of macroeconomics and currencies. He declined to reveal his returns so far. “I am still learning,” Jen, 43, says.