Wednesday, 28 September 2016
Last updated 15 hours ago
Nov 5 2010 | 12:04pm ET
Clarium Capital Management will almost certainly suffer its third-straight losing year, barring a miraculous turnaround over the next two months.
The firm, once again San Francisco-based after leaving New York this summer, is down 17.1% through October, Bloomberg News reports. If the trend holds, the hedge fund founded by PayPal co-founder Peter Thiel will lose double digits for the second year in a row, after dropping 25% last year.
The $742 million firm’s flagship lost 1% last month. The average hedge fund added a similar amount and is up about 4% on the year.
Clarium has posted the losses despite the hedge fund-favoring climate. The firm lost less than 5% in 2008, when the average hedge fund lost double-digits, but failed to rebound last year with the rest of the industry, which enjoyed a nearly 20% average return.