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Hedge Funds Start 2012 At A Blistering Pace

Tyler Durden's picture





 

Not too surprisingly, following an atrocious year for hedge funds in 2011, 2012 has opened with a bang, as virtually all of the brand name funds are green for the year, while the best performers are all the European focused funds which last year crashed and burned. Call it sector rotation into the most hated names (something we took advantage of two weeks ago with our bizarro market strategies), or just call it a dead cat bounce, one can see why nobody wants the party to end: just a few more months like January, and everyone will be above the high water mark, valuations be damned.

Best and worst Hedge Funds of 2012:

Select hedge fund performance:

And complete HSBC breakdown:

HedgeWeekly2012_No05

 


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Sun, 02/05/2012 - 19:42 | Link to Comment bob_dabolina
bob_dabolina's picture

They should know that because the toin coss was "heads" papa johns is giving a free pizza and two liter tomorrow to EVERYONE who calls in. 

Great business model. If 1 percent of the population calls in that's 31 million free pizzas

Sun, 02/05/2012 - 19:47 | Link to Comment TheSettler
TheSettler's picture

Toin Coss ????

 

Sun, 02/05/2012 - 19:50 | Link to Comment TheSettler
TheSettler's picture

we're giving EVERY PAPA REWARDS member

Sun, 02/05/2012 - 19:56 | Link to Comment bob_dabolina
bob_dabolina's picture

Papa Johns is a nationwide pizza place (like dominos) they had a "promo" where if the toin coss in the superbowl was "heads" everyone who calls in gets free pizza and two liter. 

Sun, 02/05/2012 - 20:14 | Link to Comment Careless Whisper
Careless Whisper's picture

 

The Careless Whisper Best Story Of The Weekend & Threadjacking (and I learned two new words; mens rea and scienter)

 

From Gretchen Morgenson: Meet Nye Lavalle. Obsessed For 15 Years. Exposed Fannie, Freddie, And MBS Fraud & Racketeering For A Very Long Time.

http://www.nytimes.com/2012/02/05/business/mortgage-tornado-warning-unheeded.html?hpw

Formerly Confidential Report From Fannie Lawyers To Fannie, Confirms Fraud Allegations By Nye Lavalle (2006)

http://s3.documentcloud.org/documents/289482/lavalle-report-small-printed.pdf

Nye Lavalle Posts On MERS Blog In 2003 With Response From MERS President

http://www.mersinc.org/forum/viewreplies.aspx?id=13&tid=93

Nye Lavalle Posts On MERS Blog In 2003 With Response From MERS Lawyer

http://www.mersinc.org/forum/viewreplies.aspx?id=13&tid=99    

 

Sun, 02/05/2012 - 20:20 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The housing collapse and the 20 million houses on shadow inventory are priced in.

Move along....

Sun, 02/05/2012 - 20:42 | Link to Comment q99x2
q99x2's picture

Why'd ya have to say that. My stomach rules. I'm calling now.

Sun, 02/05/2012 - 19:29 | Link to Comment AvoidingTaxation
AvoidingTaxation's picture

Yuppie!

Sun, 02/05/2012 - 19:29 | Link to Comment Auburn
Auburn's picture

All iz good and how it shud be http://www.bloomberg.com/news/2012-02-05/papademos-greek-leaders-agree-to-cuts-equal-to-1-5-of-gdp-as-talks-set.html

Let's just see what tomorrow brings bitchez!

 

Sun, 02/05/2012 - 19:45 | Link to Comment Yen Cross
Yen Cross's picture

The bigger they come, the harder they fall. Desperation I tell ya!

Sun, 02/05/2012 - 19:48 | Link to Comment ebworthen
ebworthen's picture

Bet they all rotated into the Financials.

Let's see how their mettle holds to year end.

(p.s. - don't buy financials)

Mon, 02/06/2012 - 00:18 | Link to Comment Thomas
Thomas's picture

Given what I presume must be some serious leverage, you would think the top end would have better returns. My unlevered, metal-rich portfolio is up 12% in January.

Sun, 02/05/2012 - 19:49 | Link to Comment AbruptlyKawaii
AbruptlyKawaii's picture

 

you close or you hit the bricks!

The money's out there, you pick it up, it's yours, you don't, I got no sympathy for ya.

You want to go out on those sits tonight and close, close!

it's yours, if not, you're going to be shining my shoes.

And you know what you'll be saying.

Bunch of losers sitting around in a bar:

'Oh yeah, I used to be a hedgie. It's a tough racket.'


Sun, 02/05/2012 - 19:49 | Link to Comment navy62802
navy62802's picture

They're going to get annihilated this year.

Sun, 02/05/2012 - 20:01 | Link to Comment Yen Cross
Yen Cross's picture

 I just stumbled across this one . It seems appropriate. CFTC HF trading definitions

Sun, 02/05/2012 - 20:03 | Link to Comment AbruptlyKawaii
AbruptlyKawaii's picture

 hft is 70% of nyse volume but cheetahs are almost extinct

Sun, 02/05/2012 - 20:06 | Link to Comment TradingJoe
TradingJoe's picture

What comes around, Goes around!

Sun, 02/05/2012 - 20:16 | Link to Comment chump666
chump666's picture

It's a momo market...kinda. 

Scary market, because it so topped and overbought. 

Sun, 02/05/2012 - 20:32 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Overbought?  It's up on light volume, which anyone here should know is....

BULLISH!

Sun, 02/05/2012 - 20:55 | Link to Comment chump666
chump666's picture

Good for a 10% to 15% bull trend, then the dow (example) swings down 10% to 15% bear.  The dow and the s&p have been trading like that for the last 12 yrs.  i.e, going nowhere despite money pumps.  It's stuck in a long term range.

The players know this and leverage up (intra trade) with HFTs, human momo rogue trades etc etc etc.  Very dangerous market now.  Greed is about to be punished.

Sun, 02/05/2012 - 21:01 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I had thought we would have seen a correction already, but I haven't been short equity since July.  I am worried inflation is already out of control and Bernanke said, "Fuck it".

Sun, 02/05/2012 - 21:24 | Link to Comment chump666
chump666's picture

you missed Aug 2011 sell off!!!  We rallied from those lows, now it's topped, the market is too long now.  We get some bad news, they can't mess with the future the morons at the FED/ECB (and even if they did they would make it worst hehe) - should see a nice unwind.  Timing?  Well, seasonal strength from Jan/Feb, selling March through to Aug major sell off (example is the 2002 sell off happened in Aug 2002 on the 5th!)

So far the market is following a tune, somewhat predictable.  Unpredictable is when the event will occur, to set the chaos in motion. 

But you are right shorts have been smashed on this rally. 

Sun, 02/05/2012 - 21:42 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I went short in late July and advised my friends to begin buyin into the August collapse.  I told them to buy as late as November.  They want to play the game and they know I can help them.

But now I can't figure the next move.  I think PM will pull back slightly for a couple weeks before blasting off, which I assume means equity pulls back and so does the euro.  Who fucking knows anymore though.

Mon, 02/06/2012 - 01:42 | Link to Comment DeadFred
DeadFred's picture

Bull market until it isn't.  The top will come soon, soon being defined as sometime between last Friday and a few years from now. My crystal ball says the S&P breaks last year's highs but sometimes my crystal ball is not my best friend (it sometimes lies).

Sun, 02/05/2012 - 20:31 | Link to Comment Yen Cross
Yen Cross's picture

 Can someone throw some CHOCOLATE Syrup on the field? ( asstroturf), This game is BORING!

Sun, 02/05/2012 - 20:36 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Why are you even watching it?

Sun, 02/05/2012 - 20:44 | Link to Comment Yen Cross
Yen Cross's picture

 It's either that, or throwing( glow in the dark) pencils into my ceiling. I guess I could open a can of paint, and watch it dry!

  Point taken though. Thanks.

Sun, 02/05/2012 - 20:49 | Link to Comment AbruptlyKawaii
AbruptlyKawaii's picture

im not , boycotted that pablum since 2005, watching the birdcage

 

Sun, 02/05/2012 - 20:53 | Link to Comment Yen Cross
Yen Cross's picture

Great flick. Robin Williams is a hoot! Anyone like Being Human on SyFy?

Sun, 02/05/2012 - 20:33 | Link to Comment disabledvet
disabledvet's picture

Animal spirits, BITCHEZ!

Sun, 02/05/2012 - 20:47 | Link to Comment Let The Wurlitz...
Let The Wurlitzer Play's picture

Can you say - counter trend rally...

 

Sun, 02/05/2012 - 20:59 | Link to Comment Yen Cross
Yen Cross's picture

The interbank markets initially gapped down, then partially recovered. They seem to be in a mild risk off move at the moment. Asia is often a counter trade. All the M/E and Asia keep rinsing usd in Europe. Just when they sucker the all in, poof! I'll continue selling rallies until the 50% Fibi from October gets broken.  That golden cross crap is just fodder. ( 50-200 sma).

Sun, 02/05/2012 - 21:04 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I can't help but think that one of these days the Fiat Ponzi is going to finally break down.   don't care how much "control" the CBs have, they can not prolong the inevitable forever.

Sun, 02/05/2012 - 21:28 | Link to Comment Yen Cross
Yen Cross's picture

 This isn't about  the ( Fed,ECB.IMF,BoE,RBA,BoJ,MoF,PBoC,SNB,BoC, Et cetera , It's about vanity and saving face at any expense!

   History repeats, because we choose to repeat it! Sometimes it's good to forget!

Sun, 02/05/2012 - 21:34 | Link to Comment disabledvet
disabledvet's picture

"which one?" they're all..."ponzi's"...now. i say avoid the concept so long as interest rates can be mandated in spite of just horrendous internals for sovereigns...the market will rally. period.

Sun, 02/05/2012 - 22:04 | Link to Comment Yen Cross
Yen Cross's picture

 The Russian woman that cuts my hair ( Today) is Ponzificating herself into a ponzi beach house. The latest and greatest. 7 year deals @ T-10 plus  200 BPS. 10's closed 1.90 Friday she wants a lock at just under 400 bps. It's going to be a rental. Yea right!

Mon, 02/06/2012 - 01:45 | Link to Comment DeadFred
DeadFred's picture

Forever is a very, very long time.

Sun, 02/05/2012 - 22:42 | Link to Comment chump666
chump666's picture

Hey Yen, outta your region are you seeing USD buying? it's bid.  Maybe this Greek drama is the final curtain...for Greece.  Maybe.

Sun, 02/05/2012 - 23:13 | Link to Comment Yen Cross
Yen Cross's picture

Yes. I'm still long usd. Even more so after that ponzi jobs print! QE-3 would be horrible for the Obama administration. Numbers come back and bite you.

Sun, 02/05/2012 - 21:26 | Link to Comment Reese Bobby
Reese Bobby's picture

Wake me up when they beat long only.  What a scam: 2 point fees on single digit performance forever, plus a performance "kiss"?  WTF is wrong with today's fiduciaries?  I know, I know...rhetorical question.

Mon, 02/06/2012 - 01:24 | Link to Comment Matt
Matt's picture

I'm confused, isn't the idea of a proper hedge to minimize risk, which inevitably means reducing yield?

Or are they supposed to be beating long only, AND reducing risk?

Mon, 02/06/2012 - 01:48 | Link to Comment DeadFred
DeadFred's picture

Most hedges are hedges in name only.

Mon, 02/06/2012 - 01:49 | Link to Comment chump666
chump666's picture

haha so true, half if not most are just momo chasing idoits.

Sun, 02/05/2012 - 21:47 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

The Great and Powerful OZ !

As long as the FBI is not going through your garbage looking for that hard drive that you just mentioned on the wiretap for that extra special expert advice you just got ...

Poor Raj, at least you won't be lonely in the pokey.

Wonder why they call it that?

Sun, 02/05/2012 - 22:33 | Link to Comment AN0NYM0US
AN0NYM0US's picture

Raj will be very lonely

check the outbouds from KTYQ

Sun, 02/05/2012 - 21:58 | Link to Comment kragsquest
kragsquest's picture

A bumper year for fraud indictments, too!  Bank on it!

 

http://dealbook.nytimes.com/2012/02/01/3-ex-traders-at-credit-suisse-cha...

 

Mr. Bharara has bristled at criticism — some of it from his relatives, he has said — that the government is not prosecuting enough people related to misconduct during the financial crisis. Mr. Bharara has said that complex financial fraud cases, like the four-year-old Credit Suisse investigation, take time to build and are often difficult to prove.

“The number of prosecutions is not a function of resources, effort, commitment or courage,” Mr. Bharara said last year, speaking to a group of reporters.

“It is a function of the laws, the facts, and the painstaking nature of these investigations.”

Sun, 02/05/2012 - 22:07 | Link to Comment Yen Cross
Yen Cross's picture

 Ponzi at it's best. Is ponzi a "NOUN"or "VERB" ? I guess it's open to debate.

Sun, 02/05/2012 - 22:17 | Link to Comment AbruptlyKawaii
AbruptlyKawaii's picture

it's an adjective :p

Sun, 02/05/2012 - 22:26 | Link to Comment Yen Cross
Yen Cross's picture

As in green and red candles? Adverb?

Sun, 02/05/2012 - 22:25 | Link to Comment Yen Cross
Yen Cross's picture

Mack the Knife  / from now on, it's not priced in. It's a SINATRA!

Sun, 02/05/2012 - 22:33 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I didn't know Sinatra covered that song.

Sun, 02/05/2012 - 23:23 | Link to Comment Yen Cross
Yen Cross's picture

Central banks/ China , the Fed, Russia! Sinatra always deserves a mulligan anyways!  I'll send you the solo version for verification.

Mon, 02/06/2012 - 00:39 | Link to Comment DIEKeynesianEco...
DIEKeynesianEconomics's picture

Hayman Capital is short 700 million in SPY, short Deutsche bank, and long gold. That's all you really need to know. Unless he is wrong for once.

Edit: I might be wrong here actually, as this page about Hayman Capital may be outdated. But I believe it is accurate.

Mon, 02/06/2012 - 01:41 | Link to Comment chump666
chump666's picture

Euro banks are overbought.  Greece goes in a few hrs (finally), then yeah someone will make a killing shorting German/French banks. 

from wires:

* IMM CTA data - Net EUR shorts off but still very large, JPY longs rise.

Mon, 02/06/2012 - 01:44 | Link to Comment apu123
apu123's picture

There will be some last minute can kicking in Greece.  They can pretend and extend this at least until March.

Mon, 02/06/2012 - 01:52 | Link to Comment chump666
chump666's picture

and the Germans guarantee another 50billion + to a zombie economy, that is dead?  Forget it.  This is over.  They are extending this out trying to figure out who gets the blame once the markets drop 5% negative.

Mon, 02/06/2012 - 03:19 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

5%?  That's it?  There must be a wicked inflationary bounce after?

Mon, 02/06/2012 - 05:42 | Link to Comment chump666
chump666's picture

5% now 20% later.  remember we are still in a bear market. 

Mon, 02/06/2012 - 01:42 | Link to Comment apu123
apu123's picture

What until you get the ramp after QE3, LTRO 2 and the big news that the US banks just skated on their collective mortgage fraud liabilities (brought to you by the Obama Administration."

Mon, 02/06/2012 - 03:19 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I hate the Obama Admin

Mon, 02/06/2012 - 01:44 | Link to Comment chump666
chump666's picture

and:

* Most Germans want Greece to quit EUR - Bild am Sonntag.

 

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