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The Misery Continues: Complete November Hedge Fund Performance

Tyler Durden's picture




 

Presenting complete hedge fund performance for the month of November and Year to Date. By the looks of things, this will be a year which will not only remain in infamy for hedge fund performance (now that we are just 15 trading days away from the end), but one where about a third of hedge fund will almost certainly be redeemed into extinction.

Top hedge funds sorted by YTD performance:

Full HSBC report:

HedgeWeekly2011_No50

 

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Thu, 12/08/2011 - 19:17 | 1961040 BrocilyBeef
BrocilyBeef's picture

Ha, and I would think the "plus" in Paulson Advantage Plus would be for a gain of 16% not a loss!

 

Also, how the hell, in 2011, did Paulson International beat out the domestic Paulson funds? 

Thu, 12/08/2011 - 19:45 | 1961156 slewie the pi-rat
slewie the pi-rat's picture

with the "Plus" they add:  no vaseline

i'll bet mrPaulson has a few great stories about the "Paulson Recovery" investments, too!

but, now that he has the "anti-tilson" formulae, paulson will never hafta work, again...

Thu, 12/08/2011 - 19:57 | 1961185 AldousHuxley
AldousHuxley's picture

look for a new funds called

 

Paulson Ultra No Money Down Leverage To The Max Fund

and

Paulson Ultra No Money Down Leverage To The Max Plus CDS Plus MBS Fund

Thu, 12/08/2011 - 20:57 | 1961349 Pladizow
Pladizow's picture

When the smart money wakes up and realizes a hedge fund cant justify 2 & 20 and have to much of a concentration in any one asset, especially if that asset is gold - hopefully there will be redemptions and a quest for physical gold.

Thu, 12/08/2011 - 21:26 | 1961409 knukles
knukles's picture

LOL
And to think that my major positions in TLT and PHYS blew away even Brevan Howard in #1 position without any horseshit 2&20 or leverage.

Hedge, my ass.
Take any half decent pick, add a pissload of leverage in a bull market and there you be, Mr. Hedgie.

Fuck 'em.

Thu, 12/08/2011 - 21:36 | 1961435 Pladizow
Pladizow's picture

And now:

1. Use shadow stats to adjust for inflation

2. Smear on the vasaline and pay the taxes!

Thu, 12/08/2011 - 21:32 | 1961423 Hard1
Hard1's picture

Meanwhile they still collect the 2% and with that and loosing a ton of money they "manage" they earn in a week what you and I earn in our lifetime my friend.

Fri, 12/09/2011 - 04:53 | 1962129 jeff montanye
jeff montanye's picture

and pay capital gains tax rates on what is fee income.  

Thu, 12/08/2011 - 21:35 | 1961430 Everyman
Everyman's picture

Nope the new funds:

 

Paulson "Just give my your Damn Money and I will squander it the way I feel Like on Hookers and Cocaine" Fund.

Thu, 12/08/2011 - 20:25 | 1961283 WhiteNight123129
WhiteNight123129's picture

I am the shadow writer for the Lion Fund... I could have done much much better without my stupid mandate and restrictions.... Fuck it. I´ll be out soon  at that rate. Never lost money in 11 years. Got to manage the whole thing after the other manager prick blew up in 2008 while I made 2%. Fuck, fuck and FUUUUUUUUUUUUCKK!!! Got to beat Gabelli arb stupid ass and and I am a fucking shadow writer................

Fri, 12/09/2011 - 04:57 | 1962131 jeff montanye
jeff montanye's picture

thanks for the insights.

Thu, 12/08/2011 - 23:29 | 1961705 philipat
philipat's picture

So actually, "Hedge" Funds can't hedge? Why pay 2/20 to but AAPL when you can do that all alone at no cost?

Thu, 12/08/2011 - 19:04 | 1961048 HD
HD's picture

Down 47%? That's worse than just throwing darts...

Thu, 12/08/2011 - 19:43 | 1961148 johnu78
johnu78's picture

The real misery will come in January, according to Gerald Celente!

 

-John
http://www.scautopros.com

Thu, 12/08/2011 - 21:11 | 1961382 WhiteNight123129
WhiteNight123129's picture

Could come earlier....

Thu, 12/08/2011 - 19:07 | 1961051 slaughterer
slaughterer's picture

Paulson was blindsided by the illusion of "recovery."

Thu, 12/08/2011 - 19:07 | 1961052 fonestar
fonestar's picture

So the more you pay Paulson for "advantage(s)" the more money you lose?

Thu, 12/08/2011 - 19:18 | 1961056 michael_engineer
michael_engineer's picture

One comment about how they don't seem to know where the money that disappeared at MF Global went.

Might I suggest that it was the invisible hand that took it?

http://www.arktimes.com/arkansas/invisible-hand-of-the-free-market-man-v...

 

 

Thu, 12/08/2011 - 19:09 | 1961065 chump666
chump666's picture

Halcyon is a smart fund.

Fri, 12/09/2011 - 03:06 | 1962066 Freddie
Freddie's picture

How do you figure?  They are only up 5% YTD.  The dollar has lost at least 10% this year plus 2% for their fee.

Hugh Hendry is supposedly up about 30% YTD as is Ray Dalio at Bridgewater.

Thu, 12/08/2011 - 19:10 | 1961067 Caviar Emptor
Caviar Emptor's picture

Clearly not well "Hedged". Performance in this choppy, emotional, contradictory environment will stink in the absence of massive Fed interventions. And 2011 was the year that the Fed tried to tap the brakes just a tiny bit. 

Thu, 12/08/2011 - 19:13 | 1961077 BrocilyBeef
BrocilyBeef's picture

Jan 2011: "I'm with team Paulson Advantage Plus, Bitchez!"

Dec 2011: "Why am I with team Paulson Advantage Plus? What am I doing wrong!"

Jan 2012: "I'm with team Paulson Enhanced, Bitchez!"

...

Thu, 12/08/2011 - 19:58 | 1961188 AldousHuxley
AldousHuxley's picture

Paulson's Bitchez Fund

Thu, 12/08/2011 - 19:15 | 1961081 DutchR
DutchR's picture

Being a river delta we see a lot of shit floating by, ESM takes the 2011 prize.

Thu, 12/08/2011 - 19:15 | 1961084 Caviar Emptor
Caviar Emptor's picture

If Madoff hadn't turned himself in, his fund would be #1 !

Thu, 12/08/2011 - 19:21 | 1961094 Stoploss
Stoploss's picture

Fuckin Paulson..

Might want to just go ahead and liquidate, on the off chance there would be something to give back.

Thu, 12/08/2011 - 19:25 | 1961107 slaughterer
slaughterer's picture

Paulson still has some gold, I think.  Unles that was him liquidating today.  

Thu, 12/08/2011 - 19:29 | 1961112 Dr. Engali
Dr. Engali's picture

He is getting squeezed.

Thu, 12/08/2011 - 19:28 | 1961111 Dr. Engali
Dr. Engali's picture

2and 20 for a return rate no better than a CD. Money well invested.

Thu, 12/08/2011 - 19:42 | 1961144 bob_dabolina
bob_dabolina's picture

There's a big YTD winner on slide 23

Thu, 12/08/2011 - 20:00 | 1961195 AldousHuxley
AldousHuxley's picture

TLO

 

US treasury actually beat 'em all

Thu, 12/08/2011 - 20:14 | 1961248 Matt
Matt's picture

For one year, maybe. Look at the annual average return since inception. Remember, 72/x for doubling rates. Some of those funds doubled their value every 3 years for 12+ years.

Thu, 12/08/2011 - 22:22 | 1961530 Dr. Engali
Dr. Engali's picture

I don't care about the past. What have you done for me lately? Just because you could make money in a market when leverage was piled on leverage doesn't mean anything. What can you do in a deleveraging environment is what I want to know.

Thu, 12/08/2011 - 19:40 | 1961137 diogen
diogen's picture

why do you start the ranking from brevan ? discus and stratus funds from frenchies cfm are doing well also

Thu, 12/08/2011 - 20:22 | 1961275 junkyardjack
junkyardjack's picture

Sorted by YTD

Thu, 12/08/2011 - 20:04 | 1961214 Matt
Matt's picture

Are those "since inception" numbers including 2011 YTD? Paulson Enhanced at 20% average growth for 10 years is pretty decent. Pulson Credit Opportunities at 60% average return for the last 5 years isn't too shabby either.

There's a few nice ones in there with mid to high 20s average return over 10 or more years, nothing to sneeze at.

Thu, 12/08/2011 - 21:11 | 1961380 WhiteNight123129
WhiteNight123129's picture

That´s true except that Paulson has nothing do within an arb fund category.

Thu, 12/08/2011 - 20:29 | 1961295 Zeff
Zeff's picture

Next up : Paulson Pardon Fund

Thu, 12/08/2011 - 21:16 | 1961389 YesWeKahn
YesWeKahn's picture

Come on. When Paulson fund made money all these funds were in the red.

Thu, 12/08/2011 - 21:26 | 1961410 Iconoclast
Iconoclast's picture

Despite all the descriptions as 'hedge funds' these companies do nothing of the sort, the vast majority have punted on equity sectors in the latest secular bear market rally. Tossers to a man..

Thu, 12/08/2011 - 21:51 | 1961471 amsterdam
amsterdam's picture

Renaissance & Blackrock not listed?...

 

Thu, 12/08/2011 - 23:05 | 1961612 Stax Edwards
Stax Edwards's picture

Paulson is that lonely guy you see in Vegas playing roulette all by himself with huge stacks of chips on just 2 or 3 numbers he "knows" are about to hit.  Then you hear him yell and cuss and everyone looks over to the table.

Thu, 12/08/2011 - 23:05 | 1961614 Stax Edwards
Stax Edwards's picture

dupe

Thu, 12/08/2011 - 23:10 | 1961634 Thunder_Downunder
Thunder_Downunder's picture

I'm guessing Paulson is going to have a few less invites to be a talking head next year...

Fri, 12/09/2011 - 03:07 | 1962067 Freddie
Freddie's picture

Maybe Paulson is not getting inside shady deals with Goldman anymore.

Fri, 12/09/2011 - 07:45 | 1962210 NuYawkFrankie
NuYawkFrankie's picture

Hahaha!  You just gotta laugh at some of these names:

- Paulson Advantage Plus (dow 47% ytd)

- Paulson Recovery (down 27%)

Geez - they probably put you in the Paulson Recovery Fund-where you're only slated to lose 27% - ro recover from the 47% beating you took in the Paulson Advantage Plus!!!

TOO DAMN FUNNY! LOL!!

Fri, 12/09/2011 - 08:26 | 1962281 Instant Wealth
Instant Wealth's picture

You can teach monkeys to trade better than that.

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