Sunday, 26 April 2015
Last updated 2 days ago
Apr 18 2012 | 11:19am ET
After ending 2011 up 20.7%, Varus Capital Management is off to a disappointing start in 2012, down 6.0% year to date.
The Varus Fund, a long-short equity strategy focusing on German mid- and large caps and their European competitors, has posted three consecutive losses so far in 2012, most recently shedding 3.55% in March.
In its monthly letter to investors, Varus blamed the losses on a failure to “get it right in buying our best risk/reward investments at lower prices given an environment of falling earnings.”
It characterized the first-quarter market rally as being “purely based on market manipulation by the ECB and pricing out tail risk and recession…as opposed to reacting to any real positives like positive earnings growth or change in fundamentals.”
The Varus Fund’s total return since inception stands at 38.6%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…