Friday, 24 October 2014
Last updated 3 hours ago
Dec 5 2007 | 7:55am ET
Even the highest-flying hedge funds have been hit by November’s carnage: A pair of Och-Ziff Capital Management funds, up by double-digits this year, registered a slight loss last month.
The declines are nothing compared to what the average hedge fund suffered—early figures put the drop between 2.4% to 3%. But the Och-Ziff Master Fund fell 0.29% in November, while its Europe Master Fund lost 0.56%. Luckily for Och-Ziff’s clients, the declines barely put a dent in their year-to-date returns, the two funds are up 10.77% and 13.34% year-to-date, Financial News reports.
In other good news for the firm, its Global Special Investments Master Fund gained 2.04% last month, and is up 16.56% on the year.
Worse for the firm, its stock price—Och-Ziff went public last month—is doing even worse than hedge funds. It’s down by more than a third since its initial public offering.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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