Saturday, 1 October 2016
Last updated 13 hours ago
Nov 6 2008 | 11:43am ET
Just four months ago, Clarium Capital Management was on pace to post triple-digit returns this year. Now, the San Francisco hedge fund may just be happy to finish the year in positive ground.
The $5.2 billion firm, managed by PayPal co-founder Peter Thiel, lost 18% in October, wiping out what was left of its year-to-date gains and leaving it down about 3% on the year, Bloomberg News reports.
Through June, the highly-levered Clarium was up 58%. But then the market turmoil began to take its toll in a big way, and the fund has declined every month since. Last month’s drop was the worst in the fund’s six-year history.