Ex-Goldman Star Trader Pivots From Hedge Funds to the Red-Hot ETF Industry

(Bloomberg) Nancy Davis rode the boom in prop trading at Goldman Sachs Group Inc. until the financial crisis hit. A decade later, she’s pivoting from hedge funds to the red-hot ETF industry, as shifting investor appetite changes the game for fast-money traders. The founder of Quadratic Capital Management LLC, which specializes in options-based macro strategies, is listing her first ETF on Tuesday — as active managers battle pressures on fees and costs and struggle to outperform passive peers.

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