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?
If you were short theaccountingmajor you did well. I don’t know if you’ve heard but he was recently banned.
he majored in accounting
He was a guy who had a major equally important to mine.
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%
Quants and alt data users are doing well
Fundamental stock pickers not doing well Value guys getting annhilated Mutual funds need to go away
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.
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 1% (per my firm)
anyone have other numbers?
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.
looks like things at AQR aren't so great
https://www.bloomberg.com/news/articles/2019-01-08/cliff-asness-s-aqr-c…