Keep seeing article after article about what big name did poorly in October and November and I am just curious as to who's doing well? Are there any strategies that have been thriving in this volatility or at least had gains large enough to survive it?
Personally, I know there are a handful of event-driven shops doing well this year thanks to being heavily involved in the SKY situation. Just wondering if there are any funds on your guys' radars that are doing well?
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Odey
Funny that he's a guy that fits both my SKY description and someone turning a profit in the downturn.
Yes but he’s mostly a perma Bear. Big losses recently.
Pershing Square having a big year, though most single manager shops struggling. Millennium and Citadel both up MSD/HSD ytd thru Nov, though I heard Dec has been brutal for both.
I only really follow equity funds. bloomberg tracks ytd perf for HFs across the board.
Those guys were reportedly up 1-4% at end of November. They could be down now.
Citadel and Millennium are market neutral. 4% move in a month is huge for them (Nov was worst ever), so probably end the year up low to MSD, which is great.
Element Capital was up 26.8% through the end of October.
https://www.wsj.com/articles/jeffrey-talpins-is-the-hedge-fund-king-you…
If you were short theaccountingmajor you did well. I don’t know if you’ve heard but he was recently banned.
Ha I just started participating in the forum after a few years away. Not sure who he is, but why did he get banned?
he majored in accounting
He was a guy who had a major equally important to mine.
Mate I levered up 100x to take short positions on theaccountingmajor
Looking at Bloomberg performance numbers for HFs right now thru November. I can't upload a pic from camera, file size too large. But here are some ytd numbers for well-known funds:
Pershing Square 11% Renaissance Tech 11% Third Point -5% Jana Partners 2% Coatue -1% Millennium 4% Citadel 9% Point72 0% Greenlight -28% Balyasny -8%
Others that stood out (not familiar with most of these): Element 26% Soma Partners 24% Gresham Quant 28% QIM quant -41% Krensavage 14% Cadian 17%
What function are you using on BBG to get this?
Bloomberg Briefs - hedge fund edition
NI HEDGEBRIEF
QIM they say they are running quant models. But they were shooting lights out one year and the up months were entirely correlated with buy the dip months. Seemed like a leveraged buy the dip strategy. Works most of the time.
it works when the market is in an uptrend, fails miserably in downtrends. But yeah you're right generally, since bull markets tend to last 2x or more as long as bear markets.
This Pershing number looks like its through 3Q, the fund is at about +3% YTD through mid-December. Its been a rough few years for Bill.
From what I've seen the Two Sigma equity l/s funds are doing well this year.
Yes you're correct. Numbers above are latest available.
CNBC reporting Pershing Square up barely above zero ytd now.
Those are likely dated. Citadel was up 9% going into October. They could be anywhere now.
For multimanagers, these returns are rankings of their respective risk models: Citadel, MLP, P72, Baly
Does Citadel pay PMs based on returns residualized to 7 different factors or something like that? Are they the only ones that do this?
Lawyers representing investors who lost their asses are doing well in this market.
Quants and alt data users are doing well
Fundamental stock pickers not doing well Value guys getting annhilated Mutual funds need to go away
Wrong. Quant guys are not doing well. Quant funds are down 4% year to date and the average fund is down against benchmark indices globally, especially the US.
AUM for quant funds is rising, though - quant funds are managing more than 1T AUM.
Guess the ones I know are doing well. Quantamental is my focus point.
This has nothing to do with which funds are up but I found it interesting in the broader context of the generally negative discussions about HFs this year. I saw an article in the Journal a couple days ago that said that new HFs raised $28B during the first half of 2018, the most since the data provider (Absolute Return) started tracking this in 2004. Now, that being said, the article does note that $18B of that total went to just three firms (Point72, Michael Gelband's place and Dan Sundheim's place). But nonetheless, I thought this was an interesting data point, for what it's worth.
From ZeroHedge: Greenlight ends year down -33.9%.
ouch
2018 numbers coming out
(per bloomberg) bwater up 14-15 rentech up 10 citadel up 9
of note, trian down 7.5% in december and millenium up
Can someone explain wtf Bwater does? And is Rentech hax?
The Water Coolest guys put it like this:
While other hedge funds are out here begging for spare change and turning tricks to put food on the table (hedge funds lost more than 6% on average in 2018), Ray Dalio's Bridgewater Associates returned 14.6% to its investors. This should come as no surprise as the Pure Alpha Strategy fund has an annualized net return of 12%. Of course, we're almost certain (read: not certain at all) this has nothing to do with the largest hedge fund in the world being a radical cult consisting of ultra-influential market movers.
Bridgewater seem to hit the global macro trend spot-on, time and time again. Whenever there is a big drawdown Dalio seems to be on the right side of the trade. If you should attribute that to them being the bellwether, or using very clever methods to identify trend shifts is hard to say. The place is a black box... although not as much as Rentech.
Millennium up ~4.5% in 2018
how's exoduspt doing
Am I right to assume rentech is their investable equity fund? That would be impressive at that size.
I assume their partners only fund crushed it. But that’s a lot my hft things.
yes, their inst'l equities fund
BlueCrest up +25% this year.
platt is such a G...also they levered the fuck up cuz no more LPs
looks like things at AQR aren't so great
https://www.bloomberg.com/news/articles/2019-01-08/cliff-asness-s-aqr-c…
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