Stratus Fund: 1.81%
Traxis Fund: -5.71% (We hope Barton Biggs' book profits are better than his hedge fund's)
Moore Global: 2.21%
Moore Emerging Markets: -1.62%
Drawbridge: 1.61%
Caxton Global: 3.03%
Brevan Howard: 1.92%
Bluecrest: 7.47%
Galleon Buccaneer: 7.34%
Galleon Diversified: 5.55%
Raptor Global: -0.44%
Renaissance Inst. Equities: -2.76%
Eminence: 4.00%
Viking Global: 2.41%
Maverick: 1.48%
Horseman Global: 1.34%
Satellite Overseas: 1.05%
Marathon Overseas: 0.75%
Marathon Special Opps: 1.00%
York: 0.30%
Third Point: 0.10%
Davidson Kempner: 0.20%
Lampe Conway: 0.50%
Canyon: 2.88%
QVT: 1.70%
Millennium: 1.82%
Deephaven: 1.70%
Bluecrest: 6.31%
Artridis Barracuda: 0.66% (All time winner in the cool sounding name category)
Drake Global: 2.90%
And of course Russian focused funds which are already down enough to make Ashley Dupree blush.
What does one notice when looking at these numbers? Well, for one, that everyone is up. WTF? The market is down 8% YTD and 90%+ of all hedge funds are up??? This implies that the hedge fund bandwagon has been fully reconstituted, this time with one massive short bet. We can't wait for the inevitable VOW-like short squeeze once the first guy in line starts covering. Another thing is that if every hedge fund is making money, who is losing it? It is not retail, cause most retail investors are either fully invested in Mattress Onshore Fund LP or buying Treasuries, so it leaves mutual and pension funds. And while we don't doubt the last two are suffering a lot, there has to be something very shady with such HF performance. But that is what one has to expect when your survival is measured in monthly if not weekly performance updates: someone will always find the loophole to the system. Sphere: Related Content
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2 comments:
May I refer you to your own article on the official employment rate of 7.2% dtd. 1/22/09. Perhaps they have hired the same team os accountants the government uses. I wonder how many of the funds would want to lock in these modest gains for the entire year.
"What does one notice when looking at these numbers? Well, for one, that everyone is up. WTF?"
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Does "selection effect" ring a bell?
"Despite it being only 20 days into the year, some hedge funds have already posted their performance."
Who chooses to post interim numbers? Funds that are doing well? Or funds which are performing badly?
Unless these same funds routinely give you 20 day performance updates, one can't read much into this.
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