tiger schlubs post april performance?
Anyone have sense of YTD numbers after a brutal April? Can't imagine it getting any worse but I'm all for the momo/growth riding fanboys to get brought back to earth
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+1 for "tiger schlubs"
Haha we are a petty industry. While do not like to see people get crushed especially young folks who are some of the last people into some of these funds.
That said truly, FICC/Macro PMs got dunked on so hard in the last 3 years and ridiculed. Maybe this year will teach people to look beyond handful of names in one strategy.
what kind of trades are getting some "respect" for them these days? or just interesting environment to be in as a macro trader.
Macro funds are significantly outperforming this year. I think that’s the point this person is making (as a group best performing HF strategy, and with some big names putting up strong numbers).
Finally
is it just because of Ukraine and/or central banks raising rates across the board?
As someone mentioned above my point was this industry “glamorizes” strategies that work at times over others but like 80% of posts on here was towards “certain strategy and firms”. This year proves you should consider a HF industry over 10-20 year career and many many strategies work during that timespan.
As for why FICC/Macro is working. Globalization slow down, supply chain issues, changes in monetary policy, overall market volatility some random examples.
Even on a pure equity basis the vol doesnt fully make sense at times but thats the market we have created take a look at chinese tech stocks for instance. And then the volatility in FICC products is way higher currently.
BBG: Tiger global down 44% YTD, -15% in April
Pretty schlubby
That was for their hedge fund vehicle. Their long only fund is down 52 percent. Yikes!
That's fucking brutal, can't imagine why they wouldn't have hedged the portfolio hard after the turn of the new year.
Yikes. Must be miles off their high watermark. Curious what happens from here?
but wait theres more!
just wait till privates are marked
In the bull market, "we invest in tech compounders."
In the bear market, you found out they are just another momentum crowded trade boi.
This.
anyone knows what % of their AuM is in private markets? We could do some quick maths
I read on financial Times that they have around 15 percent of their hedge fund and long only fund in privates...then they have their dedicated private equity funds which I think have about 65 billion dollars in aum altogether
Can you imagine being a UNHW individual giving Tiger Global your money thinking they're the most sophisticated investors in the world and they give you the same returns as a WSB degenerate
Even Pizzy is doing better than the Tiger Flubs
any idea how the top MM HFs are doing (Citadel, P72, Millennium) in comparison YTD?
CNBC reported that Citadel Wellington is up 12.7% YTD (with a big April return of 7.5%)
EDIT:
also seeing Millenium was up 5.3% in April, but I don’t have a YTD
Melvin -23%, Pershing -10%
Macro funds appear to still be holding strong (15-30% type YTD for some)
Dat market neutral swag
Levered beta bois will always be levered beta bois.
what is beyond my comprehension is how they can be doing so badly. Everyone and their mothers is talking about markets potentially crashing for the last weeks/months. Don’t they realise what is going on? Or is it that they really believe the tech fairytale and think that stonks only go to the moon?
My question is what happens to these firms? Does Tiger bounce back or can this sink them? At the very least I'd expect some sort of business restructuring. Or are these institutions of such scale something like this can be recovered from with minimal impact?
if I'm an LP why give any money to tiger's HF vehicle (not talking about VC) when coatue offers almost the same product with much less drastic drawdowns?
coatue does not offer the same product?
Any funds with tech exposure doing ok? Seems like everyone is getting annihilated
With tech exposure? Yes. With levered long beta tech exposure? No.
wow it seems tiger is getting shit on by everybody..... anybody contrarian to this?
I mean LP's gave them money knowing they were gonna be long tech so they can't be too mad. That said even the L/S product got destroyed so idk
Clearly a lot more L than S lol
LOL. TQQQ but with 2/20 fee structure, fuch yeah!
I can’t wait for their private deals to get marked down. It will drive valuations off a cliff in privates everywhere. Then, interesting opportunities :-)
Preach, waiting for those fat down rounds to force some reality back into the private markets. Between these guys and Softbank growth tech investing has been nightmarish to get reasonable entries the last few years if the founder has been fixated on getting one of those $100m+ Series As getting tossed around like candy.
Again hate to see this stuff. But pretty clear some large MMHF and others will be letting go of people next little while.
Macro/FICC hiring is off the charts right now. Unfortunately all the junior talent had to be in it before since no one has time to even teach, gotta get ground running day1 in this madness.
Why do you say that about MMHF? Looks like they’re the best performers this year. Tiger flubs on the other hand…
To clarify, hearing lots of funds looking for talent. Couple household names have decided the last two years to fully enter commodities again. This typically means they will pivot away from other strategies. Just meant they may react first before the Tiger types as usually less patient and want to free up capital.
YTD returns hitting the BBG tape
Coatue: -15%
Viking: -9%
Melvin: -23%
Greenlight: 15%
Citadel: 13%
Balyasny: 7%
Millennium: 6%
Exodus: 3%
Verition: 3%
Any word on Point72?
When Greenlight is beating mlp/baly. Equities MMHF PMs are not having fun either.
Quant boys fighting for their lives for the next few weeks so that they can then print money off the slower risk on over the next year.
Tiger Global flagship fund -43.7%, long-only fund -51.7%
https://tremendous.blog/2022/05/04/hedge-fund-giant-tiger-global-losing…
AQR up 29% and 20% in their equity market neutral (from press release)
Pleasantly surprised that viking only down 9%
Any info on XN, Holocene, Bridgewater ?
A few articles quoting +26% for Bridgewater through April
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