Tuesday, 21 October 2014
Last updated 1 hour ago
Mar 8 2011 | 2:00pm ET
February was a mixed month for some of the most prominent hedge funds in the business.
First, the good: Paulson & Co., whose gold fund bounced back from its big losses in January to bring itself very near break-even for 2011. The Paulson fund returned 13.24% last month, Institutional Investor reports, after shedding 12% in January. The fund remains down, albeit only slightly, for the year.
Paulson's other funds were much more in line with the average hedge fund, which rose about 1.4% last year. The firm's flagship Advantage fund was up 1.62% (1.87% year-to-date) and its Advantage Plus fund was up 2.25% (2.79% YTD). Paulson's Recovery fund, which bets on an economic rebound, added 3.53% in February (4.46% YTD), while Paulson Partners rose 1.64% (4.01% YTD).
Even better is Appaloosa Management, which has had anything but the mixed year that Paulson has had. The New Jersey firm's eponymous fund is up almost 10%, while its Thoroughbred fund is up almost 8%, through February, II reports.
Renaissance Technologies has been a good deal more middling. The Long Island quantitative giant's Institutional Futures Fund rose 3.16% last month and is up 3.86% on the year, according to Dealbreaker.com
Finally, the bad and the ugly, which is really not all that bad and not terribly ugly. Ping Capital Management, headed by former SAC Capital Advisors star trader Ping Jiang, finally hit a roadbump in February, dropping 0.59%. Still, the fund is up 6.69% this year, following returns of 105% last year and 193% in 2009.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...