Friday, 24 October 2014
Last updated 1 hour ago
Oct 8 2013 | 11:25am ET
Canosa Capital's inception was difficult and painful. It's early days are proving anything but.
The London-based global macro fund, founded by former Rubicon Fund Management chief investment officers Santiago Alarco and Timothy Attias, has more than doubled its assets under management in its first five months. The firm, backed by Brummer & Partners, now manages US$575 million.
Canosa returned 7.5% in its first four months of trading—four months that saw the average global macro fund drop nearly 4%—Bloomberg News reports.
Canosa debuted on May 1, two years after Alarco and Attias planned to launch their first post-Rubicon venture, a hedge fund called Sata Partners. Those plans were derailed when Rubicon sued them for breaching their fiduciary duty to the hedge fund after founder Paul Brewer was seriously injured in a 2009 fall from a horse. That lawsuit was settled last 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…
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 ...