A hedge fund millionaire took a stand for his anti-Trump beliefs, and he could lose his job


Speaking out against your boss is never easy. And it's especially difficult when your boss is a billionaire Wall Streeter.

But that hasn't stopped David Magerman from voicing his disagreements with his boss on President Trump.

Magerman is a 20-year veteran at Renaissance Technologies, a legendary New York-based hedge fund with $32 billion in assets as of mid-year 2016, according to Hedge Fund Intelligence Billion Dollar Club ranking.

He told Gregory Zuckerman at the Wall Street Journal that his boss, hedge fund billionaire Robert Mercer, recently called him to inquire about those disagreements.

According to the Wall Street Journal, Mercer asked Magerman if it was true that he had referred to him as a white supremacist. Magerman denied that specific allegation, but he did challenge Mercer's role in President Trump's campaign. Mercer has been a big financial backer to Trump, and he, along with his daughter Rebekah, are close to Trump, Steve Bannon and Kellyanne Conway.

"If what you're doing is harming the country then you have to stop," Magerman reportedly told Mercer.

Magerman said he has increased his own political activity to "counteract" his boss. Magerman doesn't want to lose his job. But he said if he does, then he'd be able to devote even more time to political activism. From the WSJ:

"This is my life's work—I ran a group that wrote the trading system they still use," he said. "But I feel relieved I'm now doing something, and if they fire me, maybe it's for the best."

Read the full story at the WSJ »

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