The Best And Worst Hedge Funds Of 2014, And Everyone Inbetween

Tyler Durden's picture

2014 was a challenging year, and perhaps for nobody more than the marquee hedge fund names of the past several years, which for the 6th year in a row underperformed the S&P 500 despite once again raking in billions in "performance" fees.

Then again, with a roster of names in which the worst performers of 2014 were the Russian Prosperity Fund and, once again, Paulson "Advantage Plus" fund, the best were Pershing Square (whose outperformance was largely due to an arguably illegal "activist" collusion with Valeant) and something called the "Tulip Trend Fund", and where "Keynes Leveraged Quantitative Strategies" (no really) returned a solid 2.4% YTD, is it any wonder that the entire hedge fund industry is merely the latest farcical consequence of a centrally-planned market in which the central banks themselves are now the Chief Risk Officers (as in, making sure there is no more Risk ever again).

Here are the best and worst hedge funds of 2014:

 

The performance of the most prominent hedge fund names of 2014:

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kaiserhoff's picture

Got your 2s and 20s right cheer, Beeches.

If they could do the maff, we wouldn't call them muppets.  Rat?

ThirdWorldNut's picture

Looks like Russian Prosperity Fund had a very low tracking error, always a hallmark of a good fund!

hooligan2009's picture

are these gross or net of base fees, performance fees, admin costs and taxes?

IridiumRebel's picture

I'm buying QQQ. Fuck it. They can go another 5 years of this shit.....

Yen Cross's picture

Nope. Just watch what happens next week.  Q-4 earnings and the sino~Russian SWIFT deal will wreak havok going into spring "15

Yen Cross's picture

 I forgot to mention all the emerging economies that are financed in $usd.

 Good luck converting your commodity based notes into $usd for export transactions.

BurningFuld's picture

Investing is so easy. Whatever makes the absolute most sense to invest in.....do the exact opposite. We are living in a backwards world...a backwards world.

ApparentlyAPseudonym's picture
ApparentlyAPseudonym (not verified) Jan 1, 2015 2:02 PM

I TRY TO HAVE AN ORIGINAL THOUGHT FOR ONCE, OR AT LEAST FRAME A PLEASING ARGUMENT.

Or: Some More Populist Rhetoric

To what extent can we say that the inalienable rights enshrined in the Declaration of Independence, our founding document, namely the Eights of Life, Liberty, and the Pursuit of Happiness, to what extent can we say that these rights mentioned conflate to no more than the right of each person to freely enjoy the fruits and earnings of their labor? In as much as we can disregard the unpleasant fact that many of the framers were slaveholders, and thus enjoyed the fruits of other's labor, do not these rights evoke the principle by which man should enjoy and profit by the activities they undertake? And yet, for many (in fact, perhaps the majority), cui bono, who profits from their labor? Above and beyond they fact that increases in wages have decoupled, and have fallen below increases in productivity, and also beyond the fact that many cannot find good paying work, as the race to the bottom abetted by global neoliberal policy drives a push for the very lowest of wages, worldwide, we find that many many people are in debt. What is debt, if not an attack on our very inalienable rights, our Rights to Life, Liberty, and the Pursuit of Happiness, or, in other words, our right to enjoy the fruits of our labor? For the person in debt must make continuous payments until their debt is discharged, and so the fruits of their labor go not unto their own benefit, to be used in such a manner to increase one's own prosperity and enjoyment, but must go towards the service of debt. In addition, for the privilege of entering into a debt arrangement in the first place, the debtor must pay interest, often of usurious amounts, as well as fees and penalties that frequently accrue. Often times those in dire economic straits can only manage minimum payments so that even when regular payments are made, even for years on end, the principle amount of the debt never shrinks. Paying significant portions of ones income to debt service do not in any way enhance ones life, liberty, or pursuit of happiness. But this is not the end. Moreover, for many many people who do not count themselves among the elite, even the necessity of shelter comes with a cost, be it either rent to a landlord or for the more fortunate as payments on a mortgage. At least the mortgage holder enjoys some increase to their life, liberty, and pursuit of happiness, as with time they come into full possession, but for the hapless renter, can seeing each month a significant portion of their income disappear to pay for the necessity of their own shelter serve in any way to better their life, liberty and pursuit of happiness? And so I conclude that such a person, who pays perhaps 30 to 40 percent of their income in rent, must also pay a goodly portion of their income to debt service, and as is the case must also pay for necessities such as food, heat, power, et al, in addition, such that almost none is left over to put their own good use, their own profit, their own benefit for themselves, and their future, I conclude that such men do not thereby enjoy their Rights to Life, Liberty and the Pursuit of Happiness, do not in fact enjoy liberty at all, and are in effect debt peons, in no better shape than the feudal serf. Furthermore I declare that such a system, that acts to deprive the vast majority of their Rights in this way is morally corrupt to the core, and has not raised itself to the ideals so boldly framed in the Declaration of Independence.

Mandel Bot's picture

Pseudonym, I don't follow your argument. Obviously paying rent is for "their own good use, their own profit, their own benefit for themselves"

How do you propose that housing should be paid for? Provided "free" by the state? Everyone should be able to choose how to dispose of the money they earn by their labor, but most folks would choose to spend a goodly part of their income on a place to live. Doesn't make them a debt slave.

dhengineer's picture

All debts are slavery, and it doesn't matter if you have a house or credit cards or student loans.  I am always amused at the idiots who think that a mortgage is somehow different than rent, that you are a "homeowner".  You are a debtor.  Mortgage interest is rent on someone else's money used to buy the house you are living in.  As a buyer, not an owner, you have no real equity in the house you live in, just a number on a piece of paper.  The only time you have actual "equity" is when you sell that house and the new buyer pushes a check across the table with your name on it.  That is your equity.  Until then you are nothing more than a renter, either of the house or of someone elses money.

In order to step out of the system and become a freeman is to trade down when you sell the house.  I have done so on two occasions, and now I live debt-free because I didn't need to "buy" more and more house to keep up with the morons who over-buy for the sake of looking successful.  My taxes are cheap, I have my own well and septic in a sparsly populated northeast state, and I can afford to work only two days a week to have a comfortable lifestyle.  That is liberty, my friend.

Yen Cross's picture

     Mario Draghi and Belgium have your 2/20 backs.

 Are those the so called "model funds" selling commodity currencies?

disabledvet's picture

Does that include fees and dividends?

 

Some of these clowns have underperformed for so long it does amaze me they think they still think they have a birthright to institutional money.  People could care less about performance...its all about the personalities.

Don't get me wrong...I believe in active management too...but the facts are the facts and index funds have drubbed even the bulk of actively managed mutual funds.  The one exception has been bond funds..ironically where all the money is (at least 3-4 times the nominal value of equities.)

 

Time will tell if the sell off in junk bonds this year is simply a correction to be bought or the part of something more substantial.  I think folks fear mongering with the Fed (CNBC in particular) are really doing a disservice to their "clients" (their viewership.). So what if the Fed raises rates to one quarter of one percent?  

I mean really...this is the end of the world?  Give me a break.

 

In the meantime the television folks are pounding the table on lunatic fringe bio-techs.  REALLY?

 

Unethical and it should be illegal.  This STUFF...is something to generate churn in the "boiler room.". In the meantime back in the world of an actual economic recovery...

 

Yen Cross's picture

    You aren't disabled, you're blind!

DipshitMiddleClassWhiteKid's picture

Can I watch you trade over skype?

flyonmywall's picture

Where's Peter Schiff's Euro Pac capital on this? Or is it not a hedge fund?

 

Fuku Ben's picture

Our fund is a stealth fund

We may be the smallest fund in the universe but we pack the power of a split atom releasing its energy

Off the charts as an outlier and maximum output for performance

Staying off the radar bitches

Spungo's picture

Trulip Trends. That's awesome. It's actually a pretty good name if you think about it. The people who got into tulip mania near the bottom made a killing.

hedgiex's picture

Yawn..Another year where DNAs of muppets will not change. Keep oiling the Predators' traps.

BlueShirt's picture

The Greenlight YTD # is wrong -  YTD is more like 8+%