Tuesday, 21 October 2014
Last updated 1 hour ago
Oct 25 2012 | 12:00pm ET
A pair of top hedge funds continued their strong 2012 with gains in September.
LibreMax Capital and Visium Asset Management both gained 2.5% last month. The increases leave the latter's Global Fund up 17% on the year and the former up 16%, Bloomberg News reports.
"September was our largest month of realized trading gains in 2012 as we capitalized on market strength to sell certain securities that had reached our price targets," LibreMax, the $2 billion hedge fund led by former Deutsche Bank trader Greg Lippmann, wrote to clients.
Another prominent fund had smaller gains to report: Eton Park Capital Management said it was up 6.8% on the year after a 3.7% rise in the third quarter. The $11 billion firm credited its bets on U.S. structured credit and fundamental long/short positions.
The news from the big boys was not all good, however. Saba Capital Management, led by another Deutsche Bank veteran, Boaz Weinstein, fell 0.42% in September, its third losing month in a row. The September decline followed losses of 1.75% in July and 1.1% in August, and marks the three-and-a-half-year-old hedge fund's first-ever three month losing steak.
Saba is down 0.9% this year.
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 ...