Buddy Fletcher is an American former hedge fund manager and the founder of the Fletcher Foundation, an organization dedicated to philanthropic efforts and community development. He began his career as a quantitative equity trader at Bear Stearns, where he honed his skills in financial markets. He later joined Kidder, Peabody & Co., where he became known for his strong advocacy against racial discrimination, ultimately suing the firm for unjust treatment. Although his discrimination claims were dismissed, he successfully won an arbitration award of $1.26 million, highlighting his resilience and determination to fight for justice in the workplace.
In 1991, Buddy founded Fletcher Asset Management, where he managed several investment funds, including his main fund, Fletcher International. His firm gained a reputation for innovative trading strategies, but it faced significant challenges in the wake of the 2008 financial crisis. By 2012, Fletcher International was declared bankrupt, marking a tumultuous period in his career and raising questions about the sustainability of his investment strategies during volatile market conditions.
Fletcher’s journey in finance has not only been marked by professional achievements but also by his commitment to social justice and community empowerment through the Fletcher Foundation. The foundation focuses on supporting educational initiatives and economic development programs for underrepresented communities.
In addition to his financial career, Fletcher has been involved in legal disputes, including notable litigation with the board of The Dakota apartment building in New York City, reflecting his tenacity and engagement in issues beyond finance. His multifaceted career continues to inspire discussions about race, equity, and accountability in the financial industry.
