Stephen Longo, a 1981 Kettering University graduate, was recently profiled in Business Week in a story called ‘The Hedge Fund Hunger Games.’ From the story:
For Longo, 54, winning is more surreal. The former General Motors engineer held on to his early lead in the launch category, giving the paper trader $1 million in real capital to invest. “I’m slightly speechless,” he says. “It’s kind of a double-edged sword. I’m obviously happy that I won. The other side is that now the real competition starts, with the markets.” Longo is truly speechless when a reporter points out something Battle-Fin had never told him: They’d be keeping the first 5 percent of any gains he made on the $1 million, in exchange for taking a risk on a total unknown. The asterisk applies only to his category. After recovering, Longo says there’s no hard feelings. “There might be a few misunderstandings or a few things that are unclear at this point, but again, the opportunity still far outweighs any of that,” he says.