ManyPeaks.com

Many top managers are having a rough go of it.  Most of the pain came in September.  After many solid years managing Tontine Partners, Jeffrey Gendell lost a bundle this year - nearly 2/3 of the fund’s value.  In the same article, it mentions that David Einhorn’s Greenlight fund lost 17% in September alone — […]

The San Diego Union-Tribune ran this story last week.. they make a good point.
“Just stop paying your mortgage“

The whole capital injection / liquidity provision / preferred equity investment stuff that our Treasury & Federal Reserve keep coming up with are all simply awful ideas in our opinion.  I could go on for a long time about why, but many have gone there already.  Intelligent, widely held thoughts about moral hazard, socializing risk […]

I was in attendance when my alma mater, the University of Virginia, hosted a panel discussion among 5 prominent hedge fund professionals last weekend. The Old Cabell Hall auditorium was packed.
Julian Robertson was certainly the headliner (and as a Tar Heel, the only non-Wahoo of the bunch) but they are all sharp guys.  I primarily […]

I’m not simply referring to the fact it’s been going down.
Global equity markets have obviously seen a rout for weeks now. But even if one has suspected such action — as we have — it is still a difficult trade to capture.
To us, the best course of action is either hedging long positions with […]