ManyPeaks.com

John Paulson has some forthright words for fellow hedge fund managers refusing to distribute capital back to clients. (Don’t confuse him with our sweaty Treasury Secretary, Hank Paulson — John has positively nailed this bear market, earning triple digit returns for clients in 2007 and double digits in 2008):
We think it’s a mistake for managers […]

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 — […]

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 […]

On July 23rd, I was honored to speak to the Rotary Club in my hometown of Paris, Kentucky. The program was titled “Hedge Funds and Stock Market Philosophy.”
Most of the attendees had heard of hedge funds, but learned how they are typically set up operationally and the myriad strategies that they can employ. […]

I forget how that saying exactly goes.
But my goodness, you can’t even trust these banks to quote legitimate LIBOR rates anymore ! A sign of the times.

Andy Swan has a great post regarding the Bear Stearns / JPM transaction.. The gist is likely true, details aside.
His blog and Howard Lindzon’s are two that I follow regularly.

The SEC found that mutual fund giant Fidelity — including legendary manager Peter Lynch — failed miserably in that area.
The gist:  Fidelity portfolio managers and traders apparently paid Wall Street brokers inflated commission in exchange for lavish gifts — some not exactly kosher.  Those commissions, of course, are paid out of the assets of each […]

Full year 2007 performance statistics are updated on ManyPeaks.com.
Our typical client account was up 18.5%, versus much smaller — and some negative — figures in our benchmark indexes.
We achieved all three of our goals, and then some.

Positive for the year
Double digit returns for clients
Beat both market indexes

Individual performance reports and our 2007 Client Letter are […]

The scorecard (and chart) of client account performance versus the indexes is now updated. Check the upper right part of ManyPeaks.com for that information..
Also to report is Teewinot’s office move into my & Elizabeth’s home here in Lexington. It certainly helps lower my overhead and has been convenient as well. Ironically, our […]

Just a few weeks after posting about Harvard’s stellar returns under El-Erian, he’s suddenly headed back to PIMCO to succeed Bill Gross! Hard to blame him: managing $35 billion is a coveted job.. managing 3/4 of a trillion dollars is truly unbelievable (and in my opinion could only be done in fixed-income markets, not […]