Goldman Sachs Alum Misses Market Rebound After Cutting Holdings

Kelvin Chiu, a former commodities trader at Goldman Sachs Group Inc. and Vitol Group, made a fortune by cutting his losses in passive stocks after Russia's invasion of Ukraine four years ago.

At that time, Chiu had earned enough to start a family office and was sitting on record profits from roiling agriculture markets.

However, he trusted his instincts as a trader and slashed his holdings, missing out on the rebound in the market. This experience taught him a valuable lesson about being too cautious with investments and has led him to adopt an unconventional approach to hiring for his mini-pod shop.