Finance

Star Trader Who Lost His Touch Bounces Back as Hedge Fund Coach

Danny Yong's pivot at Dymon Asia is beating returns at larger global peers.

Danny Yong

Photographer: Ore Huiying/Bloomberg

For almost two decades, Danny Yong was a hedge fund star used to winning. After stints at global giants including Citadel and Goldman Sachs Group Inc., he co-founded his own firm that soon became a powerhouse in Asia. Double-digit returns were common in those heady days.

But in 2019, after three straight years of getting crushed by the markets, Yong was forced to answer two probing questions faced by many high-octane traders: Had he lost his touch? And was it time to quit?