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Best And Worst Performing Hedge Funds In August And Year-To-Date 2014

Tyler Durden's picture




 

Superficially, there are two amusing observations to make about a New Normal in which the S&P, courtesy of its Chief Risk Officers Yellen, Draghi and Kuroda, continues to vastly outperform virtually all hedge funds for a 6th year running: the first is that one of the very few funds in our universe which is doing better than the broader market is named Tulip Trend Fund, which in itself speaks volumes, while the other fund that is creating outsized "alpha" is Bill Ackman's Pershing Square, which has made the bulk of its gains on the back of the Allergan deal where he frontran the investing public, knowing full well Valeant would make a hostile bid, a transaction which the SEC better strike as illegal or else the farce of a market will get even more farcical.

Aside from that, perhaps what is most surprising, or not for those who have been reading our warnings since 2009 that under central-planning alpha creation is practically impossible, is that while YTD some of the most marquee hedge fund names, especially in the global macro arena are generating subzero returns,  it is how few funds stand out. Considering we live in a world in which there is no longer any "risk", and in which even the smallest dip is furiously BTF, this should be a truly disturbing finding, and it means that short squeezes of the most hated stocks will continue to be the single best way to generate "alpha" for the coming months and years.

Best and Worst performing hedge funds in 2014:

Select HF names sorted by August performance:

 

The same names sorted by YTD performance:

 

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Wed, 09/03/2014 - 12:50 | 5176033 Dr Strangemember
Dr Strangemember's picture

So what you're saying is Index ETFs???  

Wed, 09/03/2014 - 13:24 | 5176222 lordylord
lordylord's picture

What is the Tulip Trend fund???  Is it a joke or something?  Do you make a lot of money and then loose it all when people wake up to the deception?

Wed, 09/03/2014 - 16:38 | 5177124 flp
flp's picture

It's a trend follower, or a commodity trading advisor (CTA).  Its managed by transtrend, one of the top 5 CTA's after Winton, Man AHL.

They are Dutch, hence the name.

 

 

Wed, 09/03/2014 - 13:34 | 5176277 Kirk2NCC1701
Kirk2NCC1701's picture

Which one's the ISIS Fund?  Lemme guess...

And where is the Nukular ETF?  'Coming soon' you say?

Wed, 09/03/2014 - 12:51 | 5176035 ynzrpowr
ynzrpowr's picture

Interesting how Pershing Square is crushing it despite the average investor having a negative view on their performance due to Herbalife media attention.

Wed, 09/03/2014 - 23:51 | 5178467 Wild Theories
Wild Theories's picture

investing 101: invest with your brain, not your feelings, or you will always be an 'average investor'

Wed, 09/03/2014 - 12:56 | 5176050 SloMoe
SloMoe's picture

I don't see Maiden Lane listed in the top ten. WTF? Does the Fed need to bring back its old manager?

 

Wed, 09/03/2014 - 13:10 | 5176145 Bear
Bear's picture

I SPY!

Wed, 09/03/2014 - 13:16 | 5176180 flp
flp's picture

Tulip closed the month +9.00%.  They are Dutch, hence the name.

It is a trend follower and like a lot of them, it had a stellar month and the year isn't looking that bad either.

Wed, 09/03/2014 - 14:44 | 5176635 Kirk2NCC1701
Kirk2NCC1701's picture

Mike's Twolips Fund.  How's that performing?

Thar she blows, cap'n!

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