Goldman Sach's flagship fund--i.e. the central showcase for the unbridled abnormal genius that is Goldman Sachs Asset Management-- Global Alpha, which lost more money last year than almost any other major hedge fund, is back in the game. According to Bloomberg, GA rose about 19 percent through mid-June, after a 40 percent drop in 2007.
One of the problems from before, which has since been dealt with, says Robert Litterman, head of Goldman's quantitative investments, was that he and others missed the signs of the proliferation of common quant trading strategies (while in a bookstore in Malaysia, Litterman spotted a book on the topic and thought nothing of it, and same deal with the time he relieved himself in a back alley after a night of drinking, and the stain on the wall bore close resemblance to the Virgin Mary, who was wearing a tee-shirt that said "Jim Simons Is My Homeboy"). "It was like turning a light on in a dark room to see the amount of crowdedness," Litterman told Bloomberg. Now that the lights are on and Global Alpha's taken stock of the red marks all over its body from getting the shit slapped out it in the dark, things are looking up. So, congratulations, GA.
Now let's continue with today's narrative o' depression. New York's most famous masturbating marine mammal is dead. Ayveq, the Coney Island walrus who made a name for himself through frequent public self-gratification, died of a massive bacterial infection on Sunday. This is almost too much to bear. I'm going to go watch SadKermit shoot up on loop while holding for my euthanist.
Goldman's Global Alpha Fund Gains After 2007 Plunge, People Say [Bloomberg]
Posted by guest , Jun 24, 2008 3:07PM
"and thought nothing of it" would seem to indicate that he bumped into someone in the dark and did not bother to turn the light on to see if there was anyone else in the room
Posted by guest , Jun 24, 2008 3:47PM
I was going to nominate the Princess of Jewry, but I'm too lazy.
Will someone take up the gauntlet?
http://www.dowjones.com/womentowatch/
Posted by guest , Jun 24, 2008 3:53PM
who is the princess of jewry?
Posted by guest , Jun 24, 2008 3:57PM
Gratz Global Alpha!!
A plus 50% 2H 08 gets you to break even for two years. Have fun road tripping with that flip book under your arm.
Posted by guest , Jun 24, 2008 4:02PM
any idea how gsip is doing?
Posted by guest , Jun 24, 2008 4:03PM
3:53: BL, of course.
Posted by guest , Jun 24, 2008 4:04PM
Bess has been nominated...
Posted by guest , Jun 24, 2008 4:06PM
@4:04-- you just banged out 500 words on BL?
Posted by guest , Jun 24, 2008 4:08PM
if so please share 4:04.
Posted by guest , Jun 24, 2008 4:14PM
@4:06 - I could bang out 5000.
Posted by guest , Jun 24, 2008 4:15PM
Carneey needs to write up a sample and have us all email it in...
Posted by guest , Jun 24, 2008 4:18PM
@3:57,
I'm with you. They're still 29% off for the past 17-1/2 months.
Posted by mrpink , Jun 24, 2008 4:31PM
they want you to know that they are CRUSHING IT over at GSAM... CRUSHING IT..
They shoulda hired Cioffi!
-mrp
Posted by Cincinnatus C , Jun 24, 2008 6:08PM
Bess would def. be one to watch if i knew wtf she looked like. is it the typical cute but not quite hot jewish girl look? atleast tell us your bra size!
Posted by guest , Jun 24, 2008 6:11PM
@Cincinnatus-- cute, yes, but no not jappy girl-looking at. And I'd say a C.
Posted by guest , Jun 25, 2008 11:02AM
Them without insider info and front running is the same as the rest of the street. There is no magic at all.