Tuesday, 13 October 2015
Last updated 56 min ago
Oct 11 2011 | 12:17pm ET
Hedge fund RK Investment Advisors soared more than 140% in the third quarter—by many measures among the worst-ever three-month periods for the hedge fund industry.
Kinnelon, N.J.-based RK's Speculators Portfolio bet against U.S. stocks in anticipation of the end of the Federal Reserve's second round of quantitative easing. The Standard & Poor's 500 Index plummeted over the past three months, which began with the end of QEII.
"'Don't fight the Fed' is the theme of the last two years," RK chief investment officer Randy Kurtz said. "Even in the face of bad news, when the Fed floods the market with money, stocks rise, and when the Fed stops, the market falls."
The Speculative Portfolio jumped 141.94% in what Kurtz called the "quarter of carnage."
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…