“I react to volatile markets much more calmly now,” Ford, 48, says. “I have more patience.”
He also has more money. Latigo Partners LP, his event-driven credit fund, climbed 24 percent last year. He almost beat the surging stock market with a bond fund. Ford is part of a growing number of Wall Street traders, including A-list hedge-fund managers Ray Dalio, Paul Tudor Jones and Michael Novogratz, who are fine-tuning their brains -- and upping their games -- with meditation. Billionaire investor Daniel Loeb, who once likened a chief executive officer to a drug addict during one of his frequent public rants, in February praised meditation while sharing a stage with the Dalai Lama in Washington, D.C.
This has created some consternation in meditation circles, where it's believed that meditation will lead to a lessening of desire -- and less interest in hedge funds.
But meditation is a tool -- like exercise increases your strength, which can be used for different ends, meditation trains your mind. How you use that is your choice.
Bloomberg reports:
Most people misunderstand meditation, says Jay Michaelson, author of “Evolving Dharma: Meditation, Buddhism, and the Next Generation of Enlightenment.”
“Meditation used to have this reputation as a hippie thing for people who speak in a particularly soft tone of voice,” Michaelson says. Not so. “Samurai practiced meditation to become more effective killers,” he says. So too did kamikaze pilots. “It’s value neutral,” Michaelson says.