2008 numbers are in.
Moore Emerging Market Fund Ltd: -17.6%
Moore Global Fixed Income Ltd: +1.3%
Moore Global Investments, Ltd: -4.3%
Maverick Fund, Ltd: -26.22%
Pequot Core Global Offshore: -17.5%
Pequot Health Care: -27.9%
Omega Overseas Partners, Ltd: -36.2%
Raptor Global Fund: -20%
Tosca Fund Limited: -67.5%
788 China Fund LTD -94.62%
Greater Europe Fund -84.9%
Russian Prosperity Fund A -76.68%
Turnberry Capital INTL -72.78%
Tosca Fund Limited Class A -67.54%
Templeton Emerging Markets Fund LTD A -52.8%
Quattro Offshore Fund LTD -58.45%
Greenlight Capital Offshore, Ltd: -16.5%
Black Bear OS Fund Ltd ($1.7B Short-biased fund): -37.2%
Stark Multi Strategy: -23%
Davidson Kempner Distressed Opportunity Int’l Ltd: -20.7%
Davidson Kempner Int’l Ltd (Multi-strat): -8.4%
Davidson Kempner Healthcare Int’l Ltd: -30%
Cerberus Intl’l (Distressed Fund): -13.2%
Perry Partners Int’l: -24%
Harbinger Capital Partners Offshore Fund I: -22.7%
Satellite Overseas Fund: -41.8%
Satellite Credit Opp Fund Ltd: -39.5%
Caxton Global Investment Ltd ($6B fund): +0.1%
Tudor B.V.I. Global Fund Ltd: -4.9%
Traxis Fund Offshore: -31.4% (Barton Biggs’ hedge fund)
Mulvaney Global Markets Fund LTD +98.28%
Tulip Trend Fund, LTD A +62.05%
JWH Global Strat. Fin & Metal +39.3%
Paulson Advantage Plus LTD +37.58%
Tudor Tensor Fund Limited Class I +35.4%
Peak Partners Offsh FD LTD B +24.45%
Paulson Advantage LTD A +24.04%
Global Alpha?
Mulvaney Global Markets Fund LTD +98.28% — Next on the Ponzi bandwagon ?
I’m actually impressed that 788 managed to be down 95%. That takes some doing.
Ok Bernie, we know you are waaaay too bored at the latest Bail hearing, but please stop scratching up these numbers on the back of your docket to keep us placated,
Your Investors
-94.62% is the new killing it.
Ugh. If -77% is “Russian Prosperity”, I’d hate to see Russian impoverishment.
@6 Bravo ! (I was just going to say that !)
Nice job Black Bear…how’d you fuck that one up
traders don’t lose money, Barton Biggs does
#3 — I guess they weren’t using stops.
@6: pwnage
any insight on Goldman SSG?
@2. No, managed futures. Your own account in your own name with daily statements provided by the broker. Limited Power of Attorney to the trader. About the most transparent alternative investment out there.
Black Bear OS Fund Ltd ($1.7B Short-biased fund): -37.2%
wow. just wow.
What’s Atticus Capital looking like these days?
Ponzi schemes are annotated by the “+” symbol.
Tulip trend fund?
too doomed to repeat, didnt learn history.
Who gets up early and goes to work at a -90% fund? & Caxton Global +.1 my ass.
I’ll 2nd a request for Global Alpha and raise for an AQR request.
Please tell me that the Tulip Trend Fund is a joke.
Also, anyone know how John Devaney finished the year?
@18- these are from the hsbc hf performance report, if caxton lied to them they’d be in huge trouble.
please tell me “anyone know how John Devaney finished the year?” is a joke.
How about Covepoint? the former Bear Stearns EM fund which I hear follows the BSAM tradition of fraud and deception
@22 – @20 here. Yes, it was definitely a joke.
Anybody know Exis Capital numbers? Little man was up double digits as of November NYT article…
@25 – When you say “little man” are you referring to the tool with 20+ monitors at his desk?
Black Bear, short biased fund down 37.2%, that takes talent. I think we just found the next CEO of Citi
@18
I was thinking the same thing.
Clown operation.
@26 — Call him a tool if you want, but a fund +53% NET last year and positive this year earns him the right to as many screens as he wants. Just my two cents.
-25
tulip trend, cayman islands
Historic Performance
2008 +55.61%* (to 12/17 for the class J, GBP)
2007 +41.10%
2006 +20.40%
2005 +13.06%
2004 +24.70%
Background:
The Tulip Trend Fund invests into the successful Transtrend Diversified Trend Program which has been systematically trading across 230 global futures markets for nearly 15 years. Tulip holds 515M USD in funds under management.*
Tulip Trend Fund has returned an impressive 31.38% per annum (CAR* ).
* GBP Class J effective 17/12/08. Please note this investment is not capital guaranteed and is only suitable for investors who can leave their capital for 3-5 years or more and are prepared for medium risk. Historical performance is no guarantee of future returns.
Bushleague formatting skills there. All the decimals should be to the nearest tenths!
@13
What the hell do you think Madoff was? Your own account in your own name with regular statements from the broker and limited power of attorney.
Wake up and smell the cat food, Dude.
Bushleague formatting skills there. All the decimals should be to the nearest tenths!
Bushleague formatting skills there. All the decimals should be to the nearest tenths!
take it up with hsbc, who put together the doc, Bushleague [sic] commenter @31 and @34 and @35
@ 20 and @ 30. Tulip is not a name to use in the investing game. If it is speculation it is also not a good name because that tulip thing did not end well.
Yours truly,
Bennie
@35,
I think he was referring to Bess, not you
@37- i realize he was referring to bess (i’m not @30), and i was telling him to take it up with hsbc, which is where the numbers posted came from.
@36 Maybe they were being ironic?
Can someone post the actual pdf document. Bess, I’ve also noticed you rarely post pdf files anymore. Is this some legal issue?
@40 um, ya think? dumbass.
“Bess, I’ve also noticed you rarely post pdf files anymore. Is this some legal issue?”
no, no legal issues whatsoever with posting a firm’s internal documents. genius.
@32, Madoff being the broker/dealer who had the ability to create bogus statements is different from you opening an account at broker then assigning LPOA to an outside manager.
Black Bear not a short fund. BB began life as a short-bias fund but changed to generalist L/S way back in 1998 or so.
JWH Global Strat. Fin & Metal +39.3%
go red sox!
F U..
we want the PDFs.
they are so melodramatic…i want to read them,
#2–Mulvaney is legit. Trend following commodity/FX/rates. Very volatile, huge swings (I think they were up 45% one month, down 23% another). Part of Man Group. Not a huge fund–probably about $150mm even inclusive up the up 100% year.
@25/29 – @26 Here. Point taken. But you might agree the screens are a bit excessive.
Anyone seen the number’s for Vince Offer?
Suprisingly, Madoff didn’t find any victims in here. Ingorant and unprofessional.
Mulvaney and Tulip are trendfollowers. Returns 100% understandable and largely replicable. Highly correlating with peers and indices. No Madoff-like magicians.
Managed accounts with well-known independent institutions, not their affiliated broker-dealer. auditors, accountants, administrators well-known and independent.
#30 not even able to find the official website of the tulip fund. gimme a break. do your homework. #2 to call Mulvaney a Ponzi couldn’t be more incompetent.
Shut up if you have no clue. Apologies for being so straightforward, but think and research before you badmouth funds or people.
Mulvaney is a top serious guy. He fully and clearly discloses risks. He will tell you in which market environments he will lose money, a lot of money. Same true for Tulip. They don’t try to tell you they make money in all market environments. They tell you the truth and make you aware of the high risks.
fund managers to investors: “…coulda been worse…coulda been my money”.
Patrick
Grosse Pointe
fund managers to investors: “…coulda been worse…coulda been my money”.
Patrick
Grosse Pointe
fund managers to investors: “…coulda been worse…coulda been my money”.
Patrick
Grosse Pointe
Here is the official site of the Tulip Trend fund… http://www.trend.ky/index.cfm/en/3/performance
The fund is run by Progressive Capital Partners, here is the site
http://www.progressivecapital.com/bottom.htm
They made their money by shorting the stock markets around the world and Interest rates, shorting energy, being long only bonds, dollar and gold and Libor… easy money…
Myself did +20% in 2008 for my personnal account…
Among other funds that performed well are MAN AHL Diversified +21%; Winton Capital etc…
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pMwZ6t Thank you for your blog post.Really looking forward to read more. Awesome.