From Morgan Stanley to Goldman Sachs, how did Peking University "programmer" Yuan Jun become a world-class top trader?

April 21st: The United States announced an extension of the ceasefire agreement and a suspension of military strikes against Iran. The S&P and Nasdaq both closed at record highs, yet oil prices surged against the trend, highlighting again the divergence between market sentiment and fundamentals. The global macro market of 2026 is like a microcosm of countless "black swan moments" from the past 22 years: Tensions in the Strait of Hormuz run high, oil volatility soars; expectations for Fed rate cuts quickly fade, global asset prices fluctuate wildly following news headlines. Even well-established hedge funds have generally faced drawdown pressures this year; for ordinary investors, macro trading is even harder—getting the macro direction right often isn't enough, as missteps in timing, tool selection, position management, or risk control can lead to failure. "Getting macro right, trading wrong" is a shared pain point for all macro investors. Yuan Jun is among the rare few who have bridged this gap through long-term experience and sustained profitability. Over 22 years of trading, he never relied on luck or innate talent, but on a set of constantly-updated, market-tested investment processes that have survived multiple bull and bear cycles. On May 16-17 in Shenzhen, Wallstreetcn has specially invited Yuan Jun—the founder of Shengyuan Global Investment Fund and former Head of Macro Trading for Greater China at Goldman Sachs—to host a two-day global macro bootcamp. The goal is to break down his practical methodology, systematically build a macro research and trading framework, and fully bridge the "last mile" from theory to practice. Yuan Jun’s cross-disciplinary journey began in a Peking University laboratory. He graduated with a bachelor’s and master’s in computer science from PKU, worked at Microsoft Asia Research Institute, deeply engaged in "next-gen wireless network" projects, often pulling all-nighters coding, and once demonstrated his work to Bill Gates. Upon graduation in 2004, he had offers from Microsoft, IBM, and Intel, as well as a Princeton PhD offer, but boldly gave up a comfortable "tech" path and transitioned into the financial industry, becoming one of the first traders directly recruited from mainland China by Morgan Stanley. Upon entering investment banking, Yuan Jun quickly realized the huge gap between textbook financial theory and the harsh reality of the trading desk. The trading desk work intensity was extreme, attrition rate was high, and there were no mentors—growth depended solely on self-driven trial and error. In multiple rotations within Morgan Stanley’s FICC division, he endured immense trading pressure and gradually developed his own trading methodology, swiftly growing from a rookie to a stand-alone trader. During the 2008 global financial crisis, Yuan Jun delivered stellar results. That year, his trading performance doubled. On the weekend of Lehman Brothers’ bankruptcy, while attending a friend’s wedding in Singapore, he rushed back to Hong Kong overnight after receiving a call, arriving at the office by 5 a.m. to check unsettled positions. The following week was a torrent of intense trades. On the peak day of the crisis, the RMB suddenly reversed trajectory. Relying on market instincts honed through countless trades, he decisively bought a large amount of USD, then sold when London institutions piled in and sentiment hit a frenzy, achieving substantial profits in a single day. This crisis gave Yuan Jun deeper insight into the nature of trading: Successful trading is never about fleeting boldness or luck but relies on a systematic decision process—scanning key macro variables, spotting price/fundamental mismatches, designing rational positions, strictly enforcing risk controls and stop-losses. A moment of hesitation in a 2007 Indonesia rupiah trade taught him a lasting lesson—hesitation can turn imminent gains into sudden losses, making it a constant reminder for trading discipline thereafter. In 2010, Yuan Jun joined Goldman Sachs in London, leading the Asia FX and rates trading team, quickly becoming a major market maker with substantial proprietary positions thanks to solid trading ability. In 2012, with the "China recession" narrative rampant globally and bearish RMB sentiment, Yuan Jun, based on long-term fundamental analysis of China, took a contrarian bullish stance and managed volatility with hedging, doubling his trading results again that year and proving his judgment by the outcome. In 2013, he returned to Hong Kong and played an active role in developing the offshore RMB (CNH) market, becoming a key market maker, witnessing and promoting its growth. On the eve of the “811 FX reform” in 2015, analyzing public IMF documents, he predicted RMB would soon move to a more freely fluctuating range, precisely capturing a major trading opportunity after the 2008 crisis. Reflecting on these contrarian trades, Yuan Jun concluded: Trading requires independent thinking—not blindly following market sentiment—yet operationally, one must also “go with the flow” and adjust to the trend. He often reminds himself with a quote from Sun Tzu’s Art of War: “Troops have no fixed formation, water has no fixed shape; one who can adapt to the enemy’s variations and win is truly skilled.” This has become his trading mantra over the years. 22 years of hands-on trading has constantly made Yuan Jun ponder: Why can some people consistently survive and profit through cycles, while others fade away? The answer lies in "unity of knowledge and action." Pure theoretical learning cannot build a complete trading system; only through repeated refinement in real markets, summarizing successes and failures, and constant iteration can theory be transformed into practical ability. Yuan Jun is always eager to share. While at Morgan Stanley, he helped write the "FX Handbook" (Foreign Exchange Trading Handbook) used for internal training. Every new trading desk hire would receive this handbook, helping them to swiftly bridge the gap from theory to practice using Yuan Jun’s real-world experience. Yuan Jun firmly believes there are no shortcuts from financial theory to trading practice, to sustained profitability. It requires a systematically-built macro research and trading framework, and even more hands-on trial and repeated honing. For this reason, Wallstreetcn and Yuan Jun have jointly planned this global macro bootcamp (May 16–17, 2026 @ Shenzhen). The bootcamp will use a business school case-study approach, selecting real but anonymized trading scenarios, providing only key economic data, policy expectations, and price info. Participants will discuss in groups and fully simulate the process of “macro scan — opportunity identification — trade expression — risk management” amid uncertainty. Yuan Jun will break down his 22-year trading desk Investment Process into four practical and replicable stages, including dedicated Excel templates to help participants quickly start. Besides two days of intensive in-person discussion, we will provide two months of online group support—weekly macro commentaries, detailed feedback on assignments, and monthly livestream Q&As—to help participants consolidate learning and iterate their trading systems. The true value of trading is not catching temporary market windfalls, but staying calm and disciplined amidst the fog, and progressing steadily through cycles. Yuan Jun’s 22-year trading journey is one of cross-disciplinary exploration, continuous iteration, practical trial/error and systemization. If his hands-on insights can help more macro traders stay on course and build their own practical frameworks, this camp will have meaningful impact. If you are passionate about global macro trading and wish to systematically improve your skills, scan the poster for activity details, or contact staff for more information. Risk Warning and Disclaimer The market involves risk and investment requires caution. This article does not constitute individual investment advice nor considers the particular investment objectives, financial situation, or needs of any user. Users should consider whether the opinions, viewpoints, or conclusions here are suitable for their own circumstances. Investment decisions based on this are at your own risk.