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Complete 2013 Year To Date Hedge Fund Performance

Tyler Durden's picture




 

Today, Bloomberg took hedge funds to task with a rather graphic cover, suggesting the hedge fund community doesn't actually provide value. We disagree: hedge funds certainly can provide value (especially those who are too big to fail, syphon inside information, and whose army of lawyers makes them untouchable to government prosecution) if only to their LPs and other investors, however not in an environment where none other than the central bank's task is to manage risk. Which explains why for the fifth year in a row, or roughly since when Bernanke became the world's biggest and most important portfolio manager, hedge funds have underperformed the S&P.

And with the Fed's "performance" now inextricably linked to that of the S&P (i.e., a market crash simply cannot be allowed without a concurrent collapse of faith in the Fed and thus the reserve currency and from there, the fiat system) hedge funds, whose job is to do what the Fed now does, i.e., hedge downside risk, will have an increasingly more difficult.

The latest, June, HSBC hedge fund performance data merely confirms what we have shown on a monthly basis: the vast majority of hedge funds continue to underperform the S&P. The sorted table below shows that of the 32 or so marquee HF names, only 4 are outperforming the S&P YTD while 28 are doing worse.

The HSBC tracked top and bottom 20:

And the full report:

 

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Thu, 07/11/2013 - 12:11 | 3741765 suteibu
suteibu's picture

Drawing about as much interest as an American looking at Cricket standings.

Thu, 07/11/2013 - 12:19 | 3741790 flacon
flacon's picture

Sell this rally in the markets.

Thu, 07/11/2013 - 12:28 | 3741823 bania
bania's picture

I like that S&P Hedge Fund a lot, over time they seem to consistently beat the others.

Anyone have any details on them?

Thu, 07/11/2013 - 12:46 | 3741887 prains
prains's picture

Yes

 

S = Sugar Daddy

P = Print

 

they have the inside track 

Thu, 07/11/2013 - 12:20 | 3741797 wisehiney
wisehiney's picture

Art Cashin said "There's enough blood in hedge fund alley to cater Dracula's daughters wedding."

Thu, 07/11/2013 - 12:26 | 3741812 Sixdeuce062
Sixdeuce062's picture

dude why isnt paulson's fund performing? he totally on top of everything    Sarc/ off

 

Thu, 07/11/2013 - 12:28 | 3741824 AustrianJim
AustrianJim's picture

They need to ring up their buddy Bernanke and say "Hey Ben, enough of this already!"

Thu, 07/11/2013 - 12:36 | 3741853 medium giraffe
medium giraffe's picture

-3.49%. Commodity only, lost $400m on oil alone.  Outstanding.

Thu, 07/11/2013 - 12:46 | 3741884 Pedantic Rube
Pedantic Rube's picture

Don't forget about the behemoth QFR (EM macro) down 12% (20% since May 15th)

Thu, 07/11/2013 - 12:58 | 3741938 mutty
mutty's picture

Hedge Funds: Proof that rich people are just as stupid as poor people.

Come for the high fees, stay for the underperformance.

 

Thu, 07/11/2013 - 14:02 | 3742147 Pedantic Rube
Pedantic Rube's picture

Says the guy who probably invested in Paulson Gold Fund

Thu, 07/11/2013 - 14:02 | 3742148 Pedantic Rube
Pedantic Rube's picture

Says the guy who probably invested in Paulson Gold Fund

Thu, 07/11/2013 - 13:05 | 3741970 Cacete de Ouro
Cacete de Ouro's picture

Surely that should be the Paulson Disadvantage and Paulson Disadvantage Minus funds....

Thu, 07/11/2013 - 14:58 | 3742361 Tortfeasor
Tortfeasor's picture

Where's Hayman?

Thu, 07/11/2013 - 21:36 | 3743641 pndr4495
pndr4495's picture

Once again I did not see Astenbeck among the funds reviewed. Whyso?

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