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BRUCE KOVNER
Caxton Corporation.

Fundamental/Macro Adapting to Survive and Creating Structures

Sitting in front of a wall-sized map of the world and surrounded by several computer screens in his New York City office, Bruce Kovner, 55, founder and chairman of Caxton Corporation, views himself as sitting in the cockpit of a plane, managing an enormous amount of information flowing in from around the globe. Kovner will trade anything that is liquid. Among the things he trades are currencies, fixed income, equities, indexes, commodities, and derivatives. "I trade world financial markets, all asset classes."

Kovner also has a photograph of one of his three oil tankers hanging on the wall. He first started purchasing tankers in 1987. They are