Thursday, 23 October 2014
Last updated 1 hour ago
Jan 8 2014 | 12:33pm ET
Last year was a forgettable one for several top quantitative hedge funds—and other prominent industry players, as well.
Bridgewater Associates, the world's largest hedge fund, saw its Pure Alpha II drop 0.8% in December to end 2013 up only 5.3%—a far cry from the Standard & Poor's 500 Index's 30% surge. At least, however, Bridgewater was up: BlueCrest Capital Management's BlueTrend fund suffered its first-ever down year, off by 12% following a 3.1% December drop, Bloomberg News reports.
Even those quants that did relatively well found themselves looking up at soaring stocks. Renaissance Technologies' Institutional Equities Fund rose 18% in 2013, fully 12 points behind the S&P500.
Other hedge funds enjoying double-digit (but still sub-S&P500) returns last year included Hutchin Hill Capital, which rose 19% (2.4% in December), according to Bloomberg, and Moore Capital Management, whose Global Investments Fund added 15% through Dec. 19 (down 0.7% on the month) and whose Macro Managers Fund was up 13% (0.4% in December). MKP Capital Management's $2.4 billion Credit Fund rose 11% last year (0.9% in December), while its $4.8 billion Opportunity Fund settled 7.1% (1.1% in December), in line with industry averages.
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…
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