Monday, June 22, 2009

RIEF Outperforms S&P by 2.06% MTD, RIFF Plunges

The high/low beta stratification seems to have finally worked out for RIEF, although likely too late as anxious investors have said "basta", and also just in time to watch RIFF get annihilated with a -7.79% absolute (ly disastrous) performance MTD. No surprise all fees there have been waived. At this rate of decline the "Futures" Fund certainly has no future. How a "slow-trading, global futures and forwards fund" can lose money in this environment when even Joe Sixpack's makeshift garage quant operation has realized the pattern is to buy futures all day and sell them at 3:59:59 is simply beyond comprehension. Then again with just over half a billion $ left, it probably is the case that most Joe Sixpacks 3x 80286 20 MHz clusters command more capital at this point.

But at least "RIFF utilizes the proven risk, cost and trade generation models used in Renaissance’s Medallion Fund." If that is indeed the case, may God have mercy on the souls and wallets of East Setauket residents. Sphere: Related Content
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