Saturday, 25 October 2014
Last updated 12 hours ago
Sep 14 2011 | 1:23pm ET
Add Maverick Capital Management to the list of August's hedge fund victims—and add it near the top of that list.
The New York-based firm, like many hedge funds, was hard hit by the market swoon at the beginning of August. But unlike many of its peers, it failed to recoup any of its losses, with its flagship ending the month down as much as it had been near the beginning.
That fund lost 11% last month, leaving it down between 10% and 12.3% on the year, Reuters reports. Another, more aggressive, Maverick fund lost 23% on the month.
Among the culprits for the Maverick bloodbath are Chinese Internet company Youku.com, which Maverick owns about 8% of and which is down 41% this year, Citigroup, down 43%, and First Solar, down 34%.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.