Discovery Capital Down Double Digits

Apr 24 2014 | 1:56pm ET

Discovery Capital Management’s March difficulties didn’t end with that month.

The South Norwalk, Conn.-based hedge fund’s losses extended into the first half of April, leaving the fund down 12% this year, Bloomberg News reports.

Discovery fell 9.3% last month, wiping out the $15 billion firm’s gains year-to-date. Founder Robert Citrone, a Tiger Management alumnus, blamed a “perfect storm” in March for the difficulties.

Unfortunately for Citrone, the squall has extended into this month: Discovery fell a further 4.9% through April 17.

Discovery returned 28% last year.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...