Complete YTD Hedge Fund Performance Summary

Tyler Durden's picture


Pop quiz: What is the common theme among the following "best of breed" 2 and 20 (at least) hedge funds, whose YTD performance is presented below?


Fund YTD Performance %
Owl Creek 10.02%
Pershing Square 9.35%
Contrarian Capital 8.97%
Paulson Recovery 8.90%
York 8.79%
REIF B 8.37%
Greenlight 6.62%
Third Point 6.41%
Canyon 6.22%
Silver Point 5.85%
Cobalt  5.42%
Perry Partners 5.32%
Viking Global 5.09%
Paulson Credit 4.93%
King Street  4.40%
Bluemountain Credit 4.18%
Moore Macro 3.06%
Tudor BVI 2.96%
Brevan Howard Credit 2.95%
Moore Global 2.88%
Caxton Global 2.84%
Millennium 2.66%
Brigade  2.60%
Brevan Howard Global 2.18%
SABA  -0.92%
Capula -0.96%
Paulson Advantage  -1.02%
Winton Futures -1.62%
Paulson Advantage  Plus -2.84%


If you said they have all underperformed the S&P through March 31, which was up 12.03%, you are right. Why? Because only those funds, such as pension and long-only dumb money, or those who are in the worst possible shape, get to benefit from Bernanke's central planning.

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Thu, 04/05/2012 - 11:33 | 2319552 hedgeless_horseman
hedgeless_horseman's picture



What is the common theme among the following "best of breed" 2 and 20 (at least) hedge funds, whose YTD performance is presented below?

Apple, bitchezzz?


Thu, 04/05/2012 - 11:36 | 2319562 Fluffybunny
Fluffybunny's picture

Would've been my guess too :D

Thu, 04/05/2012 - 11:45 | 2319591 MillionDollarBonus_
MillionDollarBonus_'s picture

Everyone laughed at me for my call to buy BAC at close to $5. Since then it has almost doubled in about four months. I think ZH day traders owe me and Warren Buffet an apology.

Thu, 04/05/2012 - 14:45 | 2320073 LuKOsro
LuKOsro's picture

Next call ?

Thu, 04/05/2012 - 17:40 | 2320600 MeelionDollerBogus
MeelionDollerBogus's picture

holding BAC shares has undue risk. Theta is very low on the options out to far far time frames so a Strangle is better.

I did that & I don't regret my BAC call despite the BAC put doing badly that was paired to it. The BAC crash-down is coming, and the last time someone told me to buy BAC it went down to 5 so I made the right call by not doing so. Don't buy BAC shares at this level: get an Options Strangle just out of the money for > 90 days & wait it out. Same with FAS, JPM and INTC.

Thu, 04/05/2012 - 11:49 | 2319600 kengland
kengland's picture



How many olive trees does it take to produce a gallon of oil? How do you go about doing this?

Thu, 04/05/2012 - 12:10 | 2319609 hedgeless_horseman
hedgeless_horseman's picture



3-5 years to get a 5-15 gal tree to maturity

200 lbs olives / tree

2,000 lbs olives = 30 gals oil

3 gals oil / tree

Thu, 04/05/2012 - 12:13 | 2319678 kengland
kengland's picture

Thanks. I'm planning on getting two trees this year. I don't need 30 gallons. I also appreciate your cider vinegar

idea as well.

Thu, 04/05/2012 - 11:35 | 2319560 Freddie
Freddie's picture

Has to be Apple and maybe Bank of America.

Thu, 04/05/2012 - 11:36 | 2319561 urbanelf
urbanelf's picture

Their respective managers are all dating super models?

Thu, 04/05/2012 - 11:37 | 2319568 Acet
Acet's picture

Clearly someone has to start a Hedge Fund with an AAPL-and-only-AAPL long strategy and then charge the muppets ... err ... clients 2 and 20 for the priviledge.

Thu, 04/05/2012 - 12:30 | 2319753 Common_Cents22
Common_Cents22's picture

nah, call it Platinum fund and charge 3 and 30.  Make it exclusive!

Thu, 04/05/2012 - 11:40 | 2319572 junkyardjack
junkyardjack's picture


Thu, 04/05/2012 - 11:40 | 2319574 Benedict Farse
Benedict Farse's picture

Two BoB.

Thu, 04/05/2012 - 11:42 | 2319578 SheepDog-One
SheepDog-One's picture

What the hell does anyone need to 'hedge' for now anyway? Bens got that covered. 

Anyway, the way I see it is tomorrows jobs report will be their hand-tip of how they have planned to go forward. 

Thu, 04/05/2012 - 11:45 | 2319589 hedgeless_horseman
hedgeless_horseman's picture



What the hell does anyone need to 'hedge' for now anyway? Bens got that covered.

flag as true (1)

Thu, 04/05/2012 - 11:57 | 2319624 1eyedman
1eyedman's picture

on a closed-market day no less.   greek bank holiday to boot?

Thu, 04/05/2012 - 11:47 | 2319595 swissaustrian
swissaustrian's picture

Managed futures funds will get their time to shine soon...

Thu, 04/05/2012 - 11:50 | 2319602 YesWeKahn
YesWeKahn's picture

Paulson red again? Are they shorting?

Thu, 04/05/2012 - 12:08 | 2319658 junkyardjack
junkyardjack's picture

Its probably because of his gold holdings

Thu, 04/05/2012 - 11:52 | 2319611 Seasmoke
Seasmoke's picture

if the damn investors would be willing to pay them more, say 3 and 30, i am sure the results would be much better

Thu, 04/05/2012 - 11:58 | 2319630 morning_glory
morning_glory's picture

Maybe GS was right.

These rich dudes really are muppets. Who in their right mind pays 20% of any upside just for holding Apple?

Thu, 04/05/2012 - 12:08 | 2319649 EmileLargo
EmileLargo's picture

Hedge Funds should be judged over a longer time frame. Bass's fund, Hayman Capital, has made excellent returns overall since it was created but year on year has often been outgunned by the S&P. That's not to say that all the above funds are run as well or better than Hayman.

Speaking for myself personally, I made extremely moderate returns in 2009 because I didn't go long the stock indices. But between 2007 and 2012 (as of today), I've comfortably outgunned the S&P or any other stock index (because I was positioned for the big crash of '08). It is your returns over time that really matter. Measuring returns mont to month and quarter to quarter is pointless.  

Thu, 04/05/2012 - 12:07 | 2319655 EmileLargo
EmileLargo's picture

Burbank's fund is another example. He had averaged 23 percent between 2000 and 2010 (compounded) and finished 2011 18 percent down. Overall, he is still up massively relative to the stock indices.

Thu, 04/05/2012 - 12:09 | 2319665 NEOSERF
NEOSERF's picture

Will see more and more like Soros...walking away from a rigged game, not even the outer circle riggers can win...if you aren't in the FOMC meetings and on Angela's speed dial, your are outside looking in...

Thu, 04/05/2012 - 12:53 | 2319705 hedgeless_horseman
hedgeless_horseman's picture




Thu, 04/05/2012 - 12:32 | 2319765 Common_Cents22
Common_Cents22's picture

huh? Soros didnt walk away from a "rigged game".  Soros walked away from regulation and disclosure.   He gets to keep rigging away in private now.

Thu, 04/05/2012 - 12:51 | 2319824 swissaustrian
swissaustrian's picture

Soros profited from the MFG bankruptcy big time.

Thu, 04/05/2012 - 12:17 | 2319690 Downtoolong
Downtoolong's picture

Another common theme is that they can all say they beat the Paulson Advantage  Plus fund, with one exception of course.


Thu, 04/05/2012 - 12:21 | 2319722 slewie the pi-rat
slewie the pi-rat's picture

"performance" is an interesting "investing" concept:  give yer money to somebody else and see how they "perform" in the "markets"

feiffer(JPEG Image, 220 × 358 pixels)

Thu, 04/05/2012 - 12:33 | 2319767 rosiescenario
rosiescenario's picture

Performance needs to be adjusted for the risk taken by managers with OPM....or more simply put, these guys get paid to gamble it up.

Thu, 04/05/2012 - 12:33 | 2319768 Common_Cents22
Common_Cents22's picture

Are these numbers net of fees? or are they gross returns?

Thu, 04/05/2012 - 13:27 | 2319914 ItsDanger
ItsDanger's picture

You'd think redemptions would increase after that performance vs the S&P.

Thu, 04/05/2012 - 14:28 | 2320039 sablya
sablya's picture

Where the heck is Bridgewater?  You missed the largest hedge fund.

Thu, 04/05/2012 - 14:33 | 2320049 wcvarones
wcvarones's picture

They beat T-bills. Give them their 20%.

Thu, 04/05/2012 - 17:46 | 2320622 The Alarmist
The Alarmist's picture

You laugh, but that is how more than a few have seen it, especially the active FX types.

Thu, 04/05/2012 - 14:38 | 2320058 walküre
walküre's picture

If you said they have all underperformed the S&P through March 31, which was up 12.03%, you are right. Why? Because only those funds, such as pension and long-only dumb money, or those who are in the worst possible shape, get to benefit from Bernanke's central planning.

The S&P may have been up 12.03% in Q1 but unless you bought etfs tracking the performance, you will be hard pressed to have made that return on a balanced portfolio.

Unless the "best of the best" with 10% returns haven't sold the portfolio, they haven't gained anything. If they all ran for the exits, it would be a scene to behold and of course their Q2 performance would SUCK ASS.

Thu, 04/05/2012 - 14:44 | 2320070 Barry McBear
Barry McBear's picture

No mention of Eric Sprott's hedge fund?

-14.0% so far in 2012.  -33.3% over the last 12 months.

I made the mistake of putting money in there, and have lost a third of it over the last year.  Gold has actually gone up roughly $200 over the last 12 months BTW, so imagine how much client money he'd have lost if gold had actually dropped.

Thu, 04/05/2012 - 17:36 | 2320504 JW n FL
JW n FL's picture



Sprott Gold Bullion Fund -3.0 1.1 18.5 11.6 - - 11.9 Mar 17, 2009


the Gold Fund is up 18.5% YTD


Sprott Asset Management has launched two new funds, Sprott Enhanced Equity Class and Sprott Enhanced Balanced Fund.

John Wilson will serve as lead manager on both funds and Scott Colbourne and Michael Craig will co-manage the Sprott Enhanced Balanced Fund. The Funds seek to generate strong risk-adjusted returns through a versatile, absolute return investment approach that actively adjusts risk through options strategies and tactical shifts in asset allocation.

"John's equity selection skills and strong focus on risk management are well-suited to today's investment environment," says Peter Grosskopf, CEO of Sprott Inc. "The launch of these funds is an important milestone for Sprott, as we continue to focus on diversifying our product offerings to provide investors with a broader range of investment options."

Wilson has over 25 years of investment and business experience. Most recently, he was Chief Investment Officer of a leading private client firm where he managed money exclusively for high-net worth individuals. Previously, he was the founder of DDX Capital Partners, an alternative investment manager that produced impressive results through the use of extensive risk management systems. Wilson is an MBA graduate of The Wharton School, University of Pennsylvania.

For initial investors in both Funds, Sprott will provide the added incentive of lower management fees for as long as they remain invested in the applicable series.

Thu, 04/05/2012 - 17:23 | 2320535 JW n FL
JW n FL's picture



Hedge Funds | Funds for Investment.. I Love these Guys for info.. easy to get to and use.. nothing better!


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