Tuesday, 28 June 2016
Last updated 30 min ago
Apr 7 2014 | 9:08am ET
Hedge fund billionaire Robert Citrone was probably glad to turn the calendar page after a brutal March for his flagship funds.
Citrone's Discovery Global Opportunities Fund was down 7.46% in Q1 and his Discovery Global Macro Fund down 9.17% after each fell some 10% in March, according to Forbes.
It's a sharp reversal for Citrone, who was one of the few hedge fund managers to give the S&P 500 a run for its money in 2013, returning about 27%.
Citrone—one of Julian Robertson of Tiger Management's famed 'Tiger cubs'—launched Discovery Capital Management in 1999. His worst year—2008—saw his Discovery Global Opportunities Fund shed 33% while his Discovery Global Macro Fund was down slightly in 2011.