Novogratz says his firm’s strategy hasn’t changed ‘dramatically’ despite the bear market

Famed hedge funder turned crypto investor Mike Novogratz sat down with Bloomberg News’ Erik Schatzker to discuss the state of his firm amidst the bear market backdrop. The former Goldman Sachs partner and Fortress trader launched his crypto merchant bank — Galaxy Digital — at the beginning of 2018. In the interview, Novogratz explained why he began investing in crypto, saying “For me, crypto was interesting because what macro guys do is try to make complicated things simple. It was macro markets on steroids. I’d never seen something go parabolic on a log chart before. I thought, my God, this is the single craziest chart ever.” As for the state of Galaxy, Novogratz said the firm’s strategy hasn’t evolved as dramatically as a market observer might think. “We have a business that we think can break even next year, if not make money. We’re not nervous; we’re frustrated that our investors have lost money. We’ve got plenty of cash to run the business for a long time.” (Source: Bloomberg)

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Novogratz says his firm’s strategy hasn’t changed ‘dramatically’ despite the bear market written by Frank Chaparro @ https://www.theblockcrypto.com/tiny/novogratz-says-his-firms-strategy-hasnt-changed-dramatically-despite-the-bear-market/ December 12, 2018 Frank Chaparro

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