Monday, 30 November 2015
Last updated 2 days ago
Sep 22 2008 | 9:56am ET
Andrew Lahde’s hedge funds have known nothing but success, but even the man who has regularly produced triple- and quadruple-digit returns for his investors is spooked by the Wall Street turmoil.
Lahde Capital told investors last week that it was shuttering its 10-month-old Short Credit Fund because the dangers of a bank collapse are too high. The fund’s strategy focused on betting against the debt of banks and broker/dealers.
“While we concede there are additional opportunities in this episode of crisis and uncertainty, we have concluded that those opportunities are far outweighed by the risks attendant in the use of the over-the-counter derivative market,” he wrote.
The Short Credit fund is the second to be closed by Lahde this year. In March, he shuttered his six-month-old commercial real estate fund, which had returned more than 200%. Short Credit did not perform quite as well, but still made investors a tidy 40% through August, according to the Financial Times. Earlier Lahde funds have returned more than 1,000%.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…