For the month ended January 31, 2009 Highbridge Long/Short Equity Fund, L.P. posted an estimated net return of -2.48%, bringing its year-to-date net return to -2.48%.Yours truly,
Highbridge Long/Short Equity Fund, L.P.
Dear Investor
Posted by Bess Levin, Feb 03, 2009, 4:18pm
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Posted by guest , Feb 03, 2009 4:22PM
Too much long, not enough short.
Posted by guest , Feb 03, 2009 4:24PM
lol @ #1.
good stuff
Posted by guest , Feb 03, 2009 4:32PM
Dealbreaker - you took off my post commenting that Representative (D) Elijah Cummings was on FBN actually making an intelligent comment - what's censorable about that? Elijah Cummings or FBN or that I mentioned Kashkari?
Posted by Bess Levin , Feb 03, 2009 4:35PM
@3- read what this post is about and tell me what place your comment had under it.
Posted by guest , Feb 03, 2009 4:38PM
Best month for Highbridge in 2009!
Posted by Lowly Assistant , Feb 03, 2009 4:41PM
Too truly, not yours.
Honestly, I know it's standard practice, but what's the point of this disingenuous closing formula. When I don't give change to a bum on the street, I don't say, "Sincerely, me." [Not that bums and Highbridge investors have anything in common. Simply an analogy.]
Posted by guest , Feb 03, 2009 4:47PM
too high, no bridge
Posted by guest , Feb 03, 2009 5:08PM
it's inwestor, not investor
Posted by guest , Feb 03, 2009 5:14PM
Bess- You mean our comments need to go with the post? Why am I only finding out about this now?
Posted by guest , Feb 03, 2009 5:16PM
Jan 2009 - best month ever for equities at BofA
Posted by guest , Feb 03, 2009 5:18PM
McAree is a good guy - smart investor, I wouldn't worry
Posted by guest , Feb 03, 2009 5:41PM
BL - Ah, finally able to draw your attention... Make it a harder spanking next time baby!
-9
Posted by guest , Feb 03, 2009 5:49PM
@10 - what was January like for fixed income?
Posted by shalimar , Feb 03, 2009 6:18PM
Unclear how long/short continues to lose money. Of all "strategies", long/short value has traditionally had the more rational managers, and have the most flexibility with regards to asset allocation and timing.
Maybe the successful ones don't spend as much time in the media.
Greenlight
Jan '09: down 60 bps (it's a relative VICTORY guys, and a bigger incentive-less hole in the more absolute sense)
Posted by guest , Feb 03, 2009 6:29PM
@14, this return is suspiciously close to the return on t-bills.
Hedge funds need to get back to their core competencies: front-running, insider trading, ponzi schemes, parachute games and tax arbitrage.
Posted by shalimar , Feb 03, 2009 6:36PM
Anyone have Bridgewater or SAC numbers?
Posted by guest , Feb 03, 2009 6:44PM
@14 theoretically a Long/Short market-neutral strategy should be beating the risk-free rate by a small amount (the 'alpha'). Perhaps this is a sign that they've got their model under control and have stopped using the strategy to make industry/sector bets. Perhaps.
Posted by guest , Feb 03, 2009 6:51PM
I'm a hedge fund manager. What is long/short?
Posted by guest , Feb 03, 2009 7:23PM
@18: your schtick is worse than sham-wow.
Posted by shalimar , Feb 03, 2009 8:55PM
@17
Theoretically, a fund manager should allocate assets where he hopes to get an absolute return on his investment. Long/short is merely a description of the tools he has at his disposal.
Making industry/sector bets is irresponsible at bet. If you take out selection bias, all broad groups lose money in the long run.
Anyway, my earlier point was simpler. I'm a fan of Einhorn, Ackman, and Loeb. So why did they have to go lose money, after being so right? I'm disappointed that they couldn't uphold the banner.
Posted by guest , Feb 04, 2009 3:38AM
@20 +1 on your top picks. Einhorn's book is a work of genius; simple, honest and shows what every good value manager should be striving to achieve. (ALD at $1.27 today down from low 20s: guess what? Patience IS a virtue!)
I am sure his work on Lehman was similarly diligent. So WTF on such terrible performance in 2008.
He has let the side down. A tough environment for sure but sheesh, there is no harm is going net short!
Posted by guest , Feb 04, 2009 3:38AM
@20 +1 on your top picks. Einhorn's book is a work of genius; simple, honest and shows what every good value manager should be striving to achieve. (ALD at $1.27 today down from low 20s: guess what? Patience IS a virtue!)
I am sure his work on Lehman was similarly diligent. So WTF on such terrible performance in 2008.
He has let the side down. A tough environment for sure but sheesh, there is no harm in going net short!
Posted by guest , Feb 04, 2009 3:38AM
@20 +1 on your top picks. Einhorn's book is a work of genius; simple, honest and shows what every good value manager should be striving to achieve. (ALD at $1.27 today down from low 20s: guess what? Patience IS a virtue!)
I am sure his work on Lehman was similarly diligent. So WTF on such terrible performance in 2008.
He has let the side down. A tough environment for sure but sheesh, there is no harm in going net short!