August Is 7th Worst Month Ever For SAC Capital (Out Of 229)

Tyler Durden's picture

Think only you lost money in August? Wrong: even such titans of fair and perfectly legal stock picking as Stevie Cohen lost money. How much? Lots. At -2.96%, this was the first negative month for blue eyes since June 2010, and the single biggest monthly loss since November 2008.

Some other statistics:

  • SAC lost 3% in August which was the second largest monthly decline since 1992 (if you exclude 2008) and was only trumped by Aug 2007's decline of 3.3%
  • So Aug 2011 ranks # 2 out of 217 months (ex 2008) putting it in the bottom 0.9% of all stevie's monthly PnLs
  • If you include 2008, then Aug 2011 ranks # 7 out of 229 total months (bottom 3.1%)
  • In 2008 there were five months with larger drawdowns, Oct 12.1%, Sept 10%, Jan 6.2%, Mar 4.4%, Nov 3.2%
  • Keep in mind these numbers all include a 1.5% FoF fee which is spead evenly over 12 months

And complete historical performance for SAC by month:

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2011

1.21

1.02

1.81

2.36

1.12

0.03

1.40

-2.96

2010

0.72

0.83

2.42

1.80

-2.21

-2.12

1.84

0.64

2.86

1.50

0.34

2.68

2009

2.61

1.19

1.71

-1.32

2.25

1.79

1.67

1.60

2.51

0.14

1.33

2.32

2008

-6.24

4.25

-4.39

3.01

3.11

-2.42

-0.67

-1.20

-9.97

-12.09

-3.20

-2.46

2007

2.10

0.96

2.88

3.47

3.87

0.29

-2.24

-3.31

1.75

2.59

-1.68

0.42

2006

4.19

1.98

3.86

2.02

-1.01

1.62

1.19

2.48

0.49

3.30

3.60

2.40

2005

0.80

2.60

1.32

-0.41

1.97

2.95

1.11

0.68

1.55

-1.31

1.87

1.77

2004

1.69

2.05

1.48

2.36

0.46

1.48

0.06

-0.06

1.68

2.24

3.16

2.43

2003

1.60

0.67

0.31

1.39

1.43

0.02

2.58

1.48

0.64

1.36

1.09

2.40

2002

1.35

0.21

0.92

-0.18

1.43

0.67

2.85

1.03

2.07

0.04

-1.23

-0.02

2001

6.07

2.87

3.90

0.32

2.56

0.86

1.67

2.27

0.78

1.68

1.50

0.96

2000

5.85

5.50

7.10

3.77

5.22

5.41

4.45

2.99

2.97

5.79

2.79

2.80

1999

8.64

1.86

5.42

8.83

5.02

1.75

4.50

2.69

3.17

3.39

4.68

1.64

1998

1.80

3.45

4.32

2.84

2.62

-0.15

3.01

-2.32

8.34

8.28

3.22

3.90

1997

2.34

2.87

2.55

4.04

4.98

2.82

3.52

4.98

3.19

1.49

0.67

1.37

1996

3.84

3.34

4.20

4.89

3.09

-0.47

-0.58

2.71

1.45

3.73

3.35

3.63

1995

4.04

3.11

4.97

0.03

2.71

4.86

2.17

2.77

1.48

3.24

4.60

2.35

1994

4.12

2.72

1.24

0.97

1.02

2.62

-0.08

2.24

2.21

2.78

0.94

-0.18

1993

4.14

1.01

3.58

7.02

5.41

2.16

0.84

1.83

3.42

4.37

3.72

2.62

1992

3.26

2.12

6.72

2.62

1.00

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trav7777's picture

so many jews with blue eyes...

orangedrinkandchips's picture

Baby Jesus was a blue eyed jew too, no?

SheepDog-One's picture

And just think, blue eye guy and everyone else chomping at the bit for their free $2.5 trillion QE3 dollars which have already been priced into losing equities God only knows how many times over by now, and its not going to be delivered. Epic kornhole time coming Sept 21.

But nevermind all that, stop the presses! DOW now pricing in QE3 trillions which wont be delivered yet AGAIN after the zombie indexes brush off the mornings horrid news, and are rising another 1%!

AccreditedEYE's picture

There are worse performers... Bruce Berkowitz is getting his ass handed to him at a lovely -23.61 YTD. Not sure what his monthly performance was for August. "Smart Money" continues to look like imbeciles.

orangedrinkandchips's picture

"I love it when a plan comes together"= A-Team

jdelano's picture

I crushed it in August.  Gld calls and S&P puts.  Now I just need a marketing department!

RobotTrader's picture

 

 

Pretty simple, actually.

Most big huge hedge funds are now staffed with Red Bull - chugging daytraders.  These giant funds are now trying to trade each and every "wiggle" on the charts, and losing big.

Heh, if they simply employed an "old school" buy and hold strategy, with ETF's like XRT which have no specific stock risk, they would be doing much better.

XRT has gone from $19 to $49, with pretty shallow pullbacks, hardly even worth playing on the short side unless you are a psychic and can predict exact tops and bottoms.

http://bigcharts.marketwatch.com/charts/big.chart?nosettings=1&symb=xrt&...

Sure beats getting pounded on Sino-Forest and being overinvested in one sector like crappy banks or junior gold stocks.

 

jdelano's picture

Yawn.  When are people going to give the Johnny Paul sniping a rest?  He's better than you, richer than you, and will be remembered while you won't ever even be "known", no matter how many lousy calls he makes from here forward, he already made one of the uh,  "greatest trade(s)" in history.  Get over it.  When you take pot shots at the guy the envy is just so transparent.  

centerline's picture

Whipsaw action was the hedge fund killer.

What this demonstrates is that the game has changed recently. The game is getting desperate. The small money has been eaten. Now, bigger money is the game for the hunt. The system is beginning to cannabalize itself for yield.

b_thunder's picture

Stevie's missing his "expert network"

 

kragsquest's picture

I guess when the Feds are looking over your shoulders, it is hard to make such huge profits.

 

Let's see, what have the Wall Street bankers been given since Bush took over:

A drop in the Capital gains rate to 15%; war-spending which represents the largest transfer of wealth in a generation with the banksters gaming the system with their numerous "powerball" pay-offs and insider trading, a no lose situation.

The sympathy of the entire world for the "little Eichmanns" who were tragically killed on 9-11, and hence a loosening of law enforcement regarding the money magicians and manipulators.

Is there no justice in the world?  These criminals should have been in jail years ago!

Spitzer's picture

7.45% up for me. 96% gold stocks, 4% short Canadian financials

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