Wednesday, 6 May 2015
Last updated 50 min ago
Aug 6 2012 | 12:26pm ET
JAT Capital Management has stopped the bleeding and begun the long climb back to par after a disastrous first half.
The $1.9 billion hedge fund gained 4.7% last month. The return reduced its year-to-date loss, which had been near 20%, to 17%.
July's rise erases the New York-based firm's May and June losses; JAT was down 17% through April.
JAT has been battered this year by its bets on the consumer sector. It's July recovery came in part from its reduction of those damaging holdings.
"The past nine months have been a challenging stretch for me personally and the entire JAT team," firm founder John Thaler wrote. "The strategic decision to expand beyond our core area of focus was costly. The good news, from my perspective, is that when you look at the data, our issues were largely isolated to one thing, which has now been removed."
JAT has suffered some $250 million in redemptions this year.
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…