Tontine Warns Investors To Expect Big Losses

Oct 7 2008 | 1:50am ET

Tontine Associates has told investors that more than half of their investments have been wiped out amid the market turmoil.

The $10 billion Greenwich, Conn.-based firm said it expects its year-to-date loss to be 65% once all of the numbers have been crunched for Sept. 30. The firm, led by Jeffrey Gendell, who enjoyed triple-digit returns in 2003 and 2005, has been betting on a global economic boom.

Tontine boasts a concentrated portfolio, especially heavily invested in energy and infrastructure companies. Many of those names, including Cleveland-Cliffs, Goodyear and U.S. Steel, have seen their stock prices plummet in recent months.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.