(Bloomberg) – Barry Piafsky, portfolio manager at Eisler Capital, and his team have stopped trading after losing millions of dollars in a sustained market sell-off.
Piafsky’s POD accumulated about $30 million in losses in volatility, eliminating all its gradual gains, according to people familiar with the matter.
One person said that although his trading book had stopped, Piafsky, who has a background in interest rate trading, has remained at the company to make up for the losses, and one said he did not want to be named because the information was private.
Representatives for London-based Eisler Capital declined to comment. Piafsky did not respond to phone calls and emails seeking comments.
Multiinternational hedge funds like Eisler rely on teams invested by traders across multiple asset classes and have strict risk limits to earn steady returns. Once the losses reach a certain threshold, they usually prevent traders from changing positions and cutting assets. In extreme cases, their books were liquidated and the merchants were fired.
From bond base, macro and stocks, a range of traders and hedge fund strategies face challenging conditions and lost money. The widespread tariff war by US President Donald Trump has put global markets into chaos, volatility across the bourgeoisie and even inspire fears of normal and secure national debt.
Tudor Investment Corp. dealer Alexander Phillips lost about $140 million earlier this week, removing his April-year earnings in 2025, Bloomberg reported.
Former Moore Capital Management Funds Manager Piafsky specializes in relative value trading. One of the people added that he was once given the role of running a fixed income business for Eisler, but he chose to continue trading.
Eisler’s multi-class hedge funds rose about 1% in the first quarter.
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