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Another Hedge Fund Shuts Down As Shumway Announces Will Return Investor Capital
Goodbye Chris Shumway. Another Tiger Cub proving to be a great bull market trader, and pretty horrible any other market trader. This is certainly not the last Tiger offshot to close.
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Get out while the getting is good.
i keep thinking of the animals that head for the hills before the tsunami...
All I can think of is the creature from Melmac who kept trying to cook the Tanners' cat in the clothes dryer.
Ha!!! I kill me!!!
Finally!
thats exactly right......to me , there is no clearer indicator of this, then Senator Evan Bayh.....That dude was on the fast track and he just got up and left ......he knows something bad is coming
if he's clairvoyant, he can see the future and trade accordingly. long and short. with $5 Bil under management, he may have his personal $50 mil and he's tired.
go in Peace. enjoy your final chapter on the Amalfi Coast.
http://www.italy-sorrento.com/
You are 100% correct. I thought the same thing in regard to the hedge fund, he knows the game is over and want out. Also In regard to Evan Bayh leaving the senate and that excuse he used is one of two things. Either he was being blackmailed and got out or he was told something or found out something about the economy and don't want to be in office when it happens. I've always thought it was strange for him to leave like that (they where commenting on him running for president).
Professionals know they can't win against the robots and the FED, where the only people allowed to make money are the FED frontrunners
Best part of the whole story is that Goldman bought a significant chunk of the firm about 4 months ago. haha suckers.
What makes you think the two aren't related? Perhaps Goldman helped precipitate this move.
they did. heard it from the guys mouth himself. the whole thing started when he screwed up the announcement of the addition of partners most likely as a necessary part of closing the GS transaction
Am I missing something or did this guy have a pretty good track record over the past 8 years and is just calling it quits while he's ahead?
It'*s not the entry point that defines you it's the exit
That's what she said...
Why is he even returning any of his partners capital. Doesn't he have a mansion on some Caribbean island with no extradition?
I thought that's what secret Swiss bank accounts were all about.
Geez, what's wrong with this guy? In the age of Benron and Wall Street bailouts along with billion dollar bonuses for Wall Street Banksta's, we can't have a single act of honesty of giving back investors money, might screw it up for all the rest of us crooks out there.
Come on buddy, this Crime America, Inc., a subsidiary of Wall Street Theives LLC, get with the program.
Perhaps.
Perhaps not.
On the other hand, if he blatantly steals money from the very wealthy, they have the means to ruin his life no matter what the jurisdiction.
Perhaps a spiritual awakening, to serve something other than the WS and the almighty Dollar! or not. History does not remember hedge fund managers.
I think they'll remember Madoff for a while ;-)
yes Bernie's got his 15 mins of fame, but just wait til the Big Ponzis start falling, JPM, BoA, The Fed, everyones favourite Goldmans and one we all love to hate, the biggest Ponzi of all, the US Govt... Bernie will be long forgotten!
Another non-productive rentier bumped out of the game of musical chairs.
Honesty & Integrity closing up shop, perhpas this is a sign that the stuff that we all expect to hit the fan may be closer than most of us would like. Lets all root for Meridith and hope she can actually get the truth out when she goes before congress later this month.
[Honesty & Integrity closing up shop, perhpas this is a sign that the stuff that we all expect to hit the fan may be closer than most of us would like.]---Weisbrot
A few things seem to be culminating in March-April. Debt ceiling, foreclosure bail-out rumors, QE3 announcement, escalating middle east protests, gas prices rising, Eurozone insolvency, and a couple other issues I can't remember at the moment. Lot of tension building. Just a gut feeling that a measure of capitulation is in the works.
"It's not what you make during the day, it's what you take home after the closing bell"!
Now even BloomingBerg is blaming the wether, what a joke this network has become! it used to be the only one left with credibility, well...all gone now!
And YES! It is increasingly looking like people are headed for the HILLS!
El Dollar (DXY) might have one last jump back to lofty 88-91 but then...major dive and no resurfacing whatsoever!
IMHO pretty much every crowded trade will take a temporary nosedive before it goes back up with a vengeance! They have to do it this way, how else can you suck in the dumb!?
The market has had a huge run, one of the greatest in world history.
Can't blame the guy for quitting near the end of a fantastic track record.
Now he can just trade his own money for fun, and chase high-end hookers out at The Hamptons.
Or maybe the high-end hookers will be chasing him.
That is way worse. When a hooker falls for a customer its like the worst stalking of your life. Bitches will pull up next to you on the highway at 2am screaming at you on the road. They will show up and stare into your house at midnight creaming "You Love Me!"
Sounds like you've had experience in this arena. How did the wife take it?
Did she kill your pet rabbit?
Here is a thought, if government controlled measures of inflation show 1% and real inflation shows 5%, does the 2 and 20 model work for investors? do fund managers end up eating inflation beating returns?
I'll venture Shumway would have outperformed this year using TBT and short long bond strategies; 5, 10 and 30 year bond yields today jumping to 8-9 month highs, with the 30 year challenging 5 year support, and below that, par. Get ready Ben, your "100% confidence" game is falling apart.
OPM hustling chump. Good riddance.
In other words, "It's all down hill from here."
I guess he's not included in the Fed's circle of trust.
Leveraged beta FTW! The greatness of your hedge fund manager is directly proportional to the leverage he uses.
if Hedgies are shutting shop while stocks are still on the up imagine the carnage down the other side... London, New York watch out!
Shumway? Maybe he is going back to "Pawn-Stars" full time?
Shumway apparently wasn't invited to the big club.
Less competition for the Squid and JP Morgue, with all these un-invitees bowing out, don't ya' know.
Umm, you guys danced on Druckenmiller's grave and said the same thing, and the SPX rallied 25% almost to the day from when he closed down.