Despite the fund’s denial, we’re still hearing persistent shouts and murmurs from several sources that Caxton has been selling a lot of assets, of late. According to one Cax-buff, “They lost nearly 20% last week…another [person] said they finished the month down 16%...this rumor seems to have a hell of a lot more legs than the average ‘hedge fund [x] is having issues’.”
But does it have more legs than the average “hedge fund [x] is having mother issues”? Traders—get on the horn and get some answers. It’s not like you’re not IMing all your contacts and saying “Pop quiz asshole: is your fund blowing up?” today, anyway. (We’re doing the same).
(NB: Caxton is a huge multi-strategy shop run by a pretty conservative guy. A loss is possible, but in the blow-up range? Doubtful. Nonetheless, 4,900 funds (and one global bank) are going to die within the next five years, and we've go to start somewhere. We might as well start at the top and work our way down. John Carney's Little Urban Achievers Capital Management-- your days are numbered).
Posted by John Q. , Aug 01, 2007 9:54AM
Yeah, I think they're in trouble.
Posted by , Aug 01, 2007 9:56AM
Different mothers, huh?
So racially he's pretty cool then?
Posted by Frenchie , Aug 01, 2007 9:59AM
Il n'est pas possible
Posted by Grenouille , Aug 01, 2007 10:01AM
En accordance avec Aleksey Vaynor, "Impossible et rien." Mais je doute que Caxton va fermer ses portes. Caxton est hyper chouette!
Posted by EE , Aug 01, 2007 10:15AM
Anonymous, you're out of your element
Posted by , Aug 01, 2007 10:33AM
"another [person]"
you mean sometimes it's a gerbil or hamster?
Posted by , Aug 01, 2007 10:34AM
[ ] implies that the word wasn't there, anon...take an english class
Posted by Finbar Taggit , Aug 01, 2007 10:53AM
From my sniffing about there doesn't seem to be any truth in these double digit drawdowns although my own website is being hammered by people from all walks of life (banks, hedge funds, analysts, investors) trying to establish the truth.
Caxton is big and powerful and very well managed and I would be very surprised if they were in trouble.
If anything, I think they have been liquidating and are sitting on lots of cash - no bad thing in these turbulent markets.
Posted by jojoNYC , Aug 01, 2007 11:04AM
cut / pasted this from Minyanville's Todd Harrison on Random Thoughts:
I've heard several unconfirmed rumors of a massive hedge fund failure. I won't name names but it's a top 10 global player. Do I believe it? Yes and no. I think there will be several high-profile casualties of war but Tuesday's melt was a function of three letters: A. H. M.
Posted by Pepe Le Peu , Aug 01, 2007 11:04AM
Qui a coupe' la frommage??
Il a dit Enron etait plus grande a mort, mais, he he he...C'est plus mort , no?
Posted by freedom fries , Aug 01, 2007 11:29AM
way too much french being spoken/written here, that is not ok
Posted by Anon , Aug 01, 2007 11:42AM
11:29, I'm pretty sure they are surrendering, but I can't tell for sure....
Posted by , Aug 01, 2007 11:56AM
Je suis d'accord, il y a beaucoup, beaucoup trop de francais ici, on parle (ecrit) seulement l'anglais sur ce site! Arretez!
Posted by eric m , Aug 01, 2007 12:35PM
according to reuters they lost 3% this month, which is a total non-event.
Posted by , Aug 01, 2007 12:54PM
"according to reuters they lost 3% this month, which is a total non-event."
Fuck. What do you mean non-event? Even the mentally challenged PMs that *I* work for did not manage to lose 3% this month ... it is only the first of the month after all. But I still have hope that August will prove to be as disastrous as July. I'm packing my parachute and rubber boat, preparing to jump out of my second floor office window.
Posted by , Aug 01, 2007 1:07PM
... but no link to the db career center??
Posted by Bulging Bracket , Aug 01, 2007 2:29PM
"plus grande a mort"??? hein?
Est-ce-que vous essayez a dire "trop grand pour echouer/mourir"? On a besoins des becherelles et des lessons en grammaire ici!
Posted by Pepe Le Peu , Aug 01, 2007 2:36PM
I am a cunning linguist from French Lick, IN.
Posted by Ezra , Aug 01, 2007 11:57PM
Bess, love the Lebowski reference!