Saturday, 29 August 2015
Last updated 9 hours ago
Dec 6 2010 | 1:07pm ET
It's almost impossible to imagine, but Clarium Capital Management's 2010 may be even worse than its disastrous 2009.
The now-San Francisco based hedge fund—Clarium quit New York after less than two years to return to its Bay Area roots this summer—is down some 23% this year, it told clients. The fund took a particular beating last month, dropping 7.8% while the average hedge fund lost between 1% and 1.5%, according to industry indices.
What's more, the firm, which managed $7 billion less than two years ago, now has just $681 million in assets under management, Bloomberg News reports.
Barring the greatest December rally in market history, Clarium, which is run by PayPal co-founder Peter Thiel, will suffer its second-straight annual double-digit loss. The fund lost 25% last year and 5% in 2008.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…