Friday, 22 May 2015
Last updated 5 hours ago
Apr 4 2014 | 10:21am ET
March proved quite the lion for several prominent hedge funds, mauling them and leaving them battered and bloodied and nursing first-quarter losses.
Andor Capital Management, Discovery Capital Management and Coatue Management all suffered major drops in March, a month that saw the average hedge fund fall fractionally.
Technology-focused Andor was hardest hit, plummeting 18% last month, The Wall Street Journal reports. Thanks to strong performance earlier in the quarter, the $1 billion Rye Brook, N.Y.-based firm is down only 5% through 2014's first three months.
Discovery's flagship dropped 9.3% in March and is off 7.1% through the month. Both of the $15 billion firm's funds were down in the first quarter, and are now reducing risk after what founder Robert Citrone called a "perfect storm" in March.
Citrone's fellow Tiger Management alumnus, Philippe Laffont, didn't weather that storm much better. Laffont's Coatue sank 8.7% last month and is down 7.4% on the year. Coatue manages $1 billion.
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…