Saturday, 1 November 2014
Last updated 17 hours ago
Jan 29 2014 | 12:05pm ET
Despite a dismal first half, Metacapital Management was able to salvage last year with a strong second half.
The New York-based hedge fund's flagship was up 0.53% last year. That's not impressive compared either to the average hedge fund, which rose in the mid- to high-single digits, or the stock market, which soared 30%. But it's better than it could have been: The $1.23 billion Mortgage Opportunities Fund fell 10.2% in the second quarter and was down more than 8% in the first half.
But, firm founder Deepak Narula wrote, Metacapital returned nearly 10% in the second half to avoid a losing year, at least.
Metacapital's Rising Rates Fund, which debuted in May, did much better, returning 20.11% in its first eight months.
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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