Friday, 24 October 2014
Last updated 8 hours ago
Feb 21 2008 | 12:50pm ET
January’s hedge fund misery was especially widespread: It even effected war-torn Iraq.
Like many of its hedge fund peers, Godvig Capital’s Babylon Fund started the new year on the wrong foot, dropping 4.2%.
The Iraq-focused hedge fund attributed the drawdown to volatility in global financial markets, as well as retreating energy companies.
“As Western and Mid-East financial markets were broadly trashed in January, also Babylon Fund was affected, but to a smaller extent, by the deteriorating markets conditions,” according to Björn Englund, portfolio manager, in an investor letter. “Both Western oil drilling and oil services companies weighed heavily on performance.”
On the economic-political perspective, Englund said Iraq's parliament is making headway in providing legislation for limited amnesty to detainees in Iraqi custody, a conservative budget for 2008 and a timetable for provincial elections. He was more pessimistic about U.S. Iraq policy, saying, “we foresee a long and slow, very condition-based, withdrawal process spiced with lots of regional diplomacy."
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.