Saturday, 18 April 2015
Last updated 11 hours ago
Feb 13 2014 | 11:51am ET
January's market tumble didn't translate into big profits for many short-selling hedge funds.
Short-biased firms were battered last year, as the Standard & Poor's 500 Index soared 32%. The same benchmark underwent something of a correction last month, dropping 3.6%—but short-sellers failed to capitalize, rising just 0.88% in January, according to eVestment.
Kynikos Associates, perhaps the most prominent short-selling hedge fund, did post a respectable gain, with its short-only Ursus fund rising 3.85%, CNBC reports. That fund shed 35.9% last year.
Several small short-sellers also made something of last month's opportunities. Gracian Capital rose more than 3% in January—but was just barely net short—and SC Management rose 2.1%. Those funds fell about 25% and 29%, respectively, last year.
Gotham Capital's Short Strategies Fund was among the month's losers, dropping 2%. Kingsford Capital Management shed 1.2%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…