2020 HF Shakeout: Who's Up Who's Down
For those of us who weren't around to play during the financial crisis, this is our first time seeing vol get extreme and liquidity get fked. Making this post and hoping it will become a thread where people will post what they're hearing circulating about different funds' positioning and winners/losers so far. Weeks like we just had cause rumors and gossip to spread like wildfire, so stay sharp and skeptical
I'll start with what I've heard, no particular order. Please correct me if any inaccuracies!
- Moore – bacon supposedly made discretionary call on covid, playing out well. Up close to 30 points according to story I saw
- Brevan – up
- Saba – got long protection on cruises back in january. Great rr. Killing it
- Brevan – similar situation as moore, not up as much
- Chenavari – big % return short EUR CDX got attention, but it's on a fund that's a small chunk of their asset base, so...
- Kirkoswald – RUMOR coffey profiting
- Bridgewater – came across terminal this AM. Down a massive 20% in Pure Alpha, which is supposed to run a vol half that. Big deal.
- Bluecrest – no return numbers, but their rv book is facing same issues as other multimanagers
- Solus – RIP
- Millennium – RUMOR 'big' loss relative to their risk targets (i.e. down a couple hundo bps at most lol)
- Pointstate – down ~10 points ytd
- Natixis H2O – shocking, I know. Down like a third I think
Funds I'm curious about: Capula, Exodus Point, Citadel (chatter about their equities book at start of week), Tepper, Druck