Friday, 31 October 2014
Last updated 15 hours ago
Apr 5 2013 | 12:02pm ET
Paulson & Co. enjoyed gains by all but one of its hedge funds in the first quarter after a March surge erased February's losses.
The New York-based firm's flagship Advantage Fund jumped 5.6% last month and is up 2.9% on the year. The more highly-levered Advantage Plus Fund rose 7.6% in March and is up 3.6% on the year. Paulson credited the funds' "financials, consumer cyclical and noncyclical event-driven positions."
Cheering though those figures are after two straight years of double-digit losses, the performance of Paulson's Recovery and Credit funds are even more so. The former added 14.2% in the first quarter, and the latter 10.4%.
But Paulson's Gold Fund continued to disappoint in a big way, losing another 3.1% in March to end the first quarter down 27.9%. The firm explained that the fund "experienced declines as implied volatility in the gold derivatives market continued its decline."
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.