So who's doing well right now?

kppw1517's picture
Rank: Monkey | banana points 61

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?

Comments (96)

Dec 17, 2018

Odey

    • 1
Dec 17, 2018

Funny that he's a guy that fits both my SKY description and someone turning a profit in the downturn.

Dec 17, 2018

Yes but he's mostly a perma Bear. Big losses recently.

Array
Dec 17, 2018

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.

Dec 17, 2018

Those guys were reportedly up 1-4% at end of November. They could be down now.

Array
Dec 17, 2018

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.

Dec 17, 2018

Element Capital was up 26.8% through the end of October.

https://www.wsj.com/articles/jeffrey-talpins-is-th...

Dec 17, 2018

If you were short theaccountingmajor you did well. I don't know if you've heard but he was recently banned.

RIP theaccountingmajor

    • 9
Dec 17, 2018
TheArtMajor:

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?

Most Helpful
Dec 17, 2018

he majored in accounting

    • 20
Dec 17, 2018

He was a guy who had a major equally important to mine.

RIP theaccountingmajor

    • 1
Funniest
Dec 17, 2018

Don't insult art majors.

    • 21
Dec 18, 2018

Mate I levered up 100x to take short positions on theaccountingmajor

thots and prayers

Dec 17, 2018

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%

    • 9
Dec 17, 2018

What function are you using on BBG to get this?

Dec 17, 2018

Bloomberg Briefs - hedge fund edition

NI HEDGEBRIEF

    • 2
Dec 17, 2018

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.

Array
Dec 17, 2018

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.

Dec 19, 2018

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.

Dec 17, 2018
penniesonthedollar:

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.

Dec 17, 2018

Those are likely dated. Citadel was up 9% going into October. They could be anywhere now.

Array
Dec 27, 2018

For multimanagers, these returns are rankings of their respective risk models: Citadel, MLP, P72, Baly

Dec 27, 2018

Does Citadel pay PMs based on returns residualized to 7 different factors or something like that? Are they the only ones that do this?

Dec 18, 2018

Lawyers representing investors who lost their asses are doing well in this market.

Dec 19, 2018

Quants and alt data users are doing well

Fundamental stock pickers not doing well
Value guys getting annhilated
Mutual funds need to go away

    • 2
Dec 19, 2018

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.

Array

Dec 19, 2018

Guess the ones I know are doing well. Quantamental is my focus point.

Dec 19, 2018

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.

    • 3
Dec 17, 2018

From ZeroHedge: Greenlight ends year down -33.9%.

ouch

    • 1
Jan 8, 2019

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?

    • 1
Jan 8, 2019

Can someone explain wtf Bwater does? And is Rentech hax?

Jan 8, 2019

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.

    • 2
Dec 17, 2018

Millennium up ~4.5% in 2018

Dec 27, 2018

how's exoduspt doing

Dec 17, 2018

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.

Array
Jan 8, 2019

yes, their inst'l equities fund

Jan 8, 2019

BlueCrest up +25% this year.

Dec 27, 2018

platt is such a G...also they levered the fuck up cuz no more LPs

Jan 8, 2019

looks like things at AQR aren't so great

https://www.bloomberg.com/news/articles/2019-01-08...

    • 1
Jan 8, 2019

Rumor has it they were gonna cut a few heads regardless of this years result. They've had a lot of scholars/scientists that barely produce anything other than papers. The recent drawdown and poor performance for a lot of the risk-parity funds is the perfect excuse to cut a professor or two.

Jan 9, 2019

Yeah AQR got.....trashed. Equity market neutral was down 13 or 14% or something like that.

Jan 8, 2019

you've mentioned them before and I'm curious, what did they get wrong? I love reading their stuff and it's clear asness is brilliant, but at some point you have to add value for clients...