Tuesday, 21 October 2014
Last updated 10 hours ago
Jan 8 2009 | 2:13am ET
While a more “Target-ed” hedge fund was battered last year, Pershing Square Capital Management’s largest fund suffered less than many of its peers. Pershing Square International, which manages almost $3 billion, fell 12% in 2008, hardly the kind of performance that pleases investors but better than the average hedge fund, which saw even larger double-digit losses last year.
The fund fell just 0.2% in December, the firm told investors in a Monday letter, Bloomberg News reports. It, too, was burned by retailer Target Corp.’s 31% decline on the year, but not nearly as badly as its Pershing Square IV fund, which invests exclusively in Target—with double leverage—and which lost 68% last year.
The International fund also lost money on its investments in Dr Pepper Snapple Group, Borders Group and Barnes & Noble.
Pershing Square is headed by noted activist investor William Ackman.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...