Monday, 4 May 2015
Last updated 5 hours ago
Apr 18 2008 | 2:00am ET
After two months of stratospheric returns, Mulvaney Capital Management’s winning streak ended in March. The Global Diversified Fund lost 7.96% on the month, but the $114 million fund remains up 44.28% year-to-date.
The fund’s retreat was a result of a weakening U.S. economy and global growth concerns prompting a broad-based correction in commodities, according to Paul Mulvaney, chief investment officer, in a letter to investors.
“The most impacted sectors were agricultural commodities and metals,” he wrote. “We suffered our most significant losses in soybean oil, coffee and cocoa, partially offset by our short positions in livestock.”
Mulvaney added that foreign exchange, interest rate and stock-index trading “continued to make scant contributions to the month’s profit and loss.”
The fund lost 23.14% last year.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…