Something strange is going on. First, we find out that Goldman Sachs's Global Alpha (which, for the last year, has been playing a parlor game with its colleagues under the Goldman Sachs Asset Management umbrella that involves seeing which fund can lose the most amount of money), was up 5.4 percent in April and 9 percent year to date. Crazy, but can probably be chalked up to the good vibes the ValueStockTips guy's been sending GS's way. Now we get the against god's plan news that a Bear fund is up. Reuters reports that BSC's Emerging Markets Macro Fund posted gains of 8.9 percent for April. A Bear fund. A fund run by Bear. A fund that Bear runs. Gained and didn't lose. Almost nine percent.
Of course, EMMF lost 11 percent in March, and 15.2 for the first quarter, so it's still technically down 7.6 percent for the year but still. This is nuts.
Bear Stearns' $1.2 billion macro hedge fund sees bounce [Reuters]
Posted by guest, May 08, 2008 1:41PM
Market goes down, Bear EMM fund goes down. Market goes up, Bear EMM fund goes up. Doesnt take a genius to just be long the market, even a Bear Stearns fund can do that.