Wednesday, 23 July 2014
Last updated 8 hours ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…