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July's Hedge Fund Winners And Losers
July was a sizzling month for stocks, which posted the best return in a year (or some other stupid soundbiting data point). However, the only ones who seem to have taken advantage of this surge are 401(k) funds which will soon be mandatory anyway courtesy of imminent capital controls, and corporate CEOs, who merely are presented with a higher level from which to sell their stock to the general public. July for the "smart money" hedge fund community was a total wash, as the latest HSBC hedge fund performance data indicate. Below are the top funds and their MTD performance (thru July 23 for most): alas, the picture is less than pretty. Does this mean hedge funds will now all go on the same side of the trade like they did in March and April as they all seek massive beta upside, only to unwind at some point and have a flash crash repeat with or without the benefits of the HFT theft brigade?
Fund and performance MTD:
Bluemountain Equity Alternatives: 0.61%
Bluemountain: 1.4%
Bluetrend Class A: (0.32%)
Brevan Howard Class A: (2.15%)
Brigade: (0.21%)
Caxton Global: (1.09%)
Clive Fund: (1.68%)
Cobalt Offshore: (2.26%)
Crabel Fund: 1.13%
Davidson Kempner: 0.64%
Drawbridge Macro: (1.77%)
Graham Global II: (2.37%)
Greenlight: 1.75%
Harbinger: 0.95% (and down 10.7% YTD)
Horseman Global: 5.15%
King Street: 0.61%
Kingdon Offshore: 1.48%
Level Global: (0.78%)
Marathon: 0.71%
Maverick: 4.03%
Millennium: 0.77%
Omega Overseas: (5.40%)
Owl Creek: 0.00%
Perry Partners: (0.44%)
Pershing Square: 1.7% (thru mid July)
Pia Macro: 2.35%
Post Total Return: (0.15%)
QVT Overseas B: (0.70%)
RIEF B: 3.20%
Shepherd Invest: (0.31%)
Strategic Value Restructuring: (1.52%)
Templeton Emerging (Mark Mobius): 9.64%
Thied Point: 0.60%
Tudor Tensor: (3.09%)
Tudor: (1.04%)
Viking Global: 1.63%
York: 2.05%
Full HSBC report:
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Good job Lee! Papa Robertson would be proud.
mobius killed it
with 9.64% MTD?
Big4 up 1168% YTD...
http://www.jubileeprosperity.com/
What about Moore? Tudor's down, maybe they're short - or maybe that's just wishful thinking from my part.
YTD, 30 yr. Treasury Bonds, + 14.4%
Great Job, Guys!
Ah, but then again, they have a different time horizon, risk preference, can't own mundane crap like treasuries.
Ego problems.
How about the fact that they rely on the same revenue stream as stocks ?
Without tax revenue, 30 year treasuries are a non performing asset but I better shut up because I don't want people to know this until I am done buying all my gold.
Ah ... yes, yes it does. Not that I am in the least interested in trading this mess.
I am not faster than the machine and I'm not into flipping coins so I'll just have some sunk opportunity cost.
unless you are a robot the market is almost untradeable day to day. Today is a good example - they gap on no vol and then let it drift. highly risky to hold overnight and economic reports are non applicable except to be perversely spun as positive or better than expected no matter what. cant believe i scalped a small profit on SPXU friday but it was by the skin of my teeth on the open.
one would think such a situation would be difficult for the average hedge fund
whatever happened to the spx/10yr divergence?
Well, they could play the new pattern whereby the market always melts up end of day on down days. Duh 'puters set up lots of lovely pattens to play on if you don't mind making pennys for hours of work.
You want sec violators. How about starting witrh MATT SIMMONS - your hero. Admits shorting BP and says he did so after speaking with scientists who gave him secret information about a lake of oil. He should be in jail as we speak.
interesting thought....the first amendment doesn't protect shouting 'fire' in a crowded building when no fire exists -you put people's lives in danger
You call that illegal, what about CNBCs misreporting of every major report, frontrunning/fakebidding HFT-bots, Banks who conceal huge loads of debt, BP photoshoping a picture of computer screen supposedly watching the leak...
Looks like someone shorted BP at the lows
The performance results speak for themselves, there are few little lambs left to shear and slaughter. And, even if employees are forced via 401ks to invest in Wall Streets corrupt markets, I think the smart ones will eventually figure out how to avoid going head to head with the hedge funds and the HFT (Huge Financial Terrorist) crowd. Soon the fast money crowd will only have themselves to play with. But, contrary to what I said a few months ago, I now don’t think that’s going to be very much fun to watch.
ZH got something against Loeb?
For the first time in 20 odd years, 401k driven spikes in equity markets are not hand in hand with growth spikes in the economy. Greenspan wants a bubble in equities to stimulate the economy. He will not get it. The American consumer is awake for the first time since 1982 (thats when the silly 401k programs started).
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