Atticus Down 12.5% In January

Feb 15 2008 | 8:00am ET

Hedge funds had a rough start to the New Year, as volatile global equity markets put a few big-name funds in the red. Among their unfortunate ranks, FINalternatives has learned, is New York-based Atticus Capital, which dropped 12.5% in January.

Atticus was hurt by its bets on Freeport-McMoRan Copper & Gold and ConocoPhillips.

Copper producer Freeport-McRohan and refiner ConocoPhilips dropped 15% and 20%, respectively, in January. In addition, a source with knowledge of the situation said Atticus was also hurt by its holdings in Sears and Bidu, which provides Chinese language Internet search services.

All told, the losses cost Atticus investors some $3 billion.

Atticus, headed by Timothy Barakett, manages more than $21 billion and runs a concentrated portfolio of some 15 names. The firm’s Atticus Global Advisors Fund gained 25% last year.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR