We're hearing that a Boston based quant fund has been liquidating its positions today, perhaps concerned about margin calls from its brokers. So far, we haven't been able to track down a name. J W Henry & Co are the only quants in Boston who come to mind but they haven't returned our calls yet. And it hardly seems fair to tag them as liquidating positions just because they are the only folks who came to mind. Then again, four out of five of their "programs" had losses, last year. Two had double digit losses.
Update: Probably not JWH. Assets under management down below $300 million so probably not enough to move the markets. And we're told that they've had a gangbuster January. (Although JWH still hasn't returned our phone calls. Not cool at all.)
But new clues have emerged. DealBreaker is told that State Street prime brokerage services the fund. Numeric, which is based somewhere near MIT, has emerged as a favorite contender among the rumor mongers.
Posted by , Jan 23, 2008 2:24PM
impressed you are abe to pull that name out of your hat, i am totally going to run with that rumor now
Posted by Loomis , Jan 23, 2008 2:36PM
Its Loomis Sales... I work in the Chicago office and shit is hitting the fan
Posted by , Jan 23, 2008 2:38PM
JWH the namesake lives in Boston but the firm is out of Boca Raton. While they are systems traders the term "quant shop" is rarely applied to people like him. Also, in his style of trading they only have about 20% of their money committed to margining positions. So while they might have margin calls, it's highly unlikely they wouldn't be able to meet them.
Posted by Anonymous , Jan 23, 2008 2:39PM
Henry is in Boca, not Boston
Posted by , Jan 23, 2008 2:41PM
except that its spelled Sayles.... So maybe its not Loomis... Plus, do they have quant funds?
Posted by Loomis , Jan 23, 2008 2:41PM
Its Loomis Sales
Posted by , Jan 23, 2008 2:42PM
except that its spelled Sayles.... So maybe its not Loomis... Plus, do they have quant funds?
Posted by , Jan 23, 2008 2:45PM
I rest my case. One misspelled message could be a typo. Two is from someone who knows nothing.
Posted by lurker , Jan 23, 2008 2:48PM
@2:38 - unless this is the second or third margin call on the position in which case they have big problems.
Posted by lurker , Jan 23, 2008 2:50PM
@2:38 - unless this is the second or third margin call on the position in which case they have big problems.
Posted by , Jan 23, 2008 2:52PM
anyone know if pyramis has put their quant dollars to work yet ... ?
Posted by Quanster , Jan 23, 2008 2:56PM
fidelity & pyramxis, numeric, arrowstreet, bogle (son of vauguard founder), acadian, MFC, Lomis, PanAgora are all boston based Quant funds. Which one is it?
Posted by annon , Jan 23, 2008 3:09PM
that rumor came out a few hours ago as, what helped push the market to its low. it is rumored to be Numeric out of Boston
Posted by , Jan 23, 2008 3:10PM
Loomis Sales is a plastics manufacturer. I hope they don't have a quant fund.
Posted by annon , Jan 23, 2008 3:12PM
that rumor came out a few hours ago as, what helped push the market to its low. it is rumored to be Numeric out of Boston
Posted by Anominous , Jan 23, 2008 3:32PM
y'all is missing the news about NY regulators and the bond insurers. that is what is moving the market.
Posted by , Jan 23, 2008 3:36PM
@3:32PM --- That is correct.
Time to kill off the rest of these vicious shorts screwing around in the financials.
Posted by jag , Jan 23, 2008 3:53PM
Holy crap, Numeric??!! We're fucked.
Posted by someone (maybe) in the know , Jan 23, 2008 3:59PM
Numeric?
http://advisor.morningstar.com/articles/doc.asp?docId=12745
Posted by jag , Jan 23, 2008 4:03PM
That article's from 2007, dipshit.
Posted by someone (not) in the know , Jan 23, 2008 4:07PM
wow, and it's only wednesday...
i need to stop drinking on weeknights.
Posted by , Jan 23, 2008 4:10PM
@4:07 Well done. The first step is admitting you have a problem.
Posted by Anonymosity , Jan 23, 2008 4:17PM
Amaranth!!
Posted by mrpink , Jan 23, 2008 4:25PM
Bear Stearns High Yield Enhanced Leverage Risk Managed Equity Volatility Global Value Wealth Exponential Growth Arbitrage Oppotunities Fund
Managed by Ralph Cioffi, Nick Maounis, with Brian Hunter as the consultant.
Posted by jag , Jan 23, 2008 4:28PM
mrpink: I sure hope they have some Nobel laureates and former Salomon arb guys on their board.
Posted by mrpink , Jan 23, 2008 4:28PM
Bear Stearns High Yield Enhanced Leverage Risk Managed Equity Volatility Global Value Wealth Exponential Growth Arbitrage Oppotunities Fund
Managed by Ralph Cioffi, Nick Maounis, with Brian Hunter as the consultant.
Posted by mrpink , Jan 23, 2008 4:31PM
Sorry about the double post, got a 500 Server Error the first time I posted it...
Posted by , Jan 23, 2008 4:31PM
Who cares Pink. I wanna know what you think about Lax Boy Tom. I'd do him. You?
Posted by Arup Data , Jan 23, 2008 4:32PM
It is Numeric Bogle Jr. is taking us down using his father's money. Oh God Ram. help us.
Posted by mrpink , Jan 23, 2008 4:35PM
Anon@4:31
I'd have to get a bigger photo of him (i.e. Tanner-size) to make a full decision. For now, we'll say i'm leaning 70% in favor of yes based on the available information I have.
He's in derivatives too... Bess, what kind? Equity? Fixed Income? I need to start calling around to the desks ROFL
Time to do our Due Diligence on this Lax Boy :D
-mrp
Posted by , Jan 23, 2008 4:45PM
Pink: you're much more selective than I am. I like the face and see enough from the couch pic to determine that his stomach is flat, unlike some of these boys who consume far too much beer. Plus I'm intrigued by that big nose. He's obviously no Tanner, but def looks like he'd be a good tumble.
Posted by mrpink , Jan 23, 2008 5:59PM
Well, having a lil something to hold onto is not necessarily a bad thing. If you can recall, our pal Tanner had a small dollop of 'love handles' on the sides. But, that's just my opinion!
G'nite mates, I'm stuck on this damned desk for God knows how long.
-mrp
Posted by God , Jan 23, 2008 6:01PM
This post proves any schmuck can post under any name.
Posted by mrpink - The Devil , Jan 23, 2008 6:03PM
Why yes Einstein! We Can!
Posted by mrpink , Jan 23, 2008 6:13PM
Why yes Einstein! We Can!
-mrp
Posted by ses , Jan 23, 2008 6:29PM
hey "someone (maybe) in the know" - Numeric closed down its mutual funds last year (February 2007) - old news, and it had nothing to do with performance or margin calls - dumbass. Get your facts straight.
Posted by vegas baby , Jan 23, 2008 6:30PM
hey "someone (maybe) in the know" - Numeric closed down its mutual funds last year (February 2007) - old news, and it had nothing to do with performance or margin calls - dumbass. Get your facts straight.
Posted by lovequant , Jan 24, 2008 10:18AM
Lots of other quants in Boston... PHZ which is owned partly by Goldman thru Commodities Corp comes to mind also. 100% quant and since GS is doing SO well in quant perhaps it has rubbed off!
Posted by , Jan 24, 2008 2:56PM
Heard that this was Numeric but on behalf of Soc Gen - they had to raise some cash and fast...