Octavian Advisors, a roughly $1 billion hedge fund firm specializing in distressed investments, said it was shutting down, becoming the latest casualty of tough market conditions as it suffered double-digit losses…”We are deeply frustrated by a market that is driven almost entirely by macroeconomic and political decision-making in the short and intermediate term, where idiosyncratic investments and analysis are overwhelmed by the broader backdrop, and where ‘events’ have become more and more difficult to effectuate and analyze,” founder Richard Hurowitz wrote a letter to investors. [Reuters]

22 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (22)

  1. Posted by Guest | October 11, 2012 at 4:31 PM

    …look for our new fund coming soon. Same dumb ideas, same dumb principals, same dumb investors.

  2. Posted by Im_a_Dude | October 11, 2012 at 4:33 PM

    didn't DB do a post on him when he launched?

  3. Posted by Guest | October 11, 2012 at 4:37 PM

    They just need a Tom Brady pep talk, or just watch tonight's game. A-rod is like 0 for a zillion. He keeps playing.

  4. Posted by guest | October 11, 2012 at 4:48 PM

    Yes, but a brand new high water mark.

  5. Posted by Guest | October 11, 2012 at 4:53 PM

    Think you just meant a new watermark. You are forgiven.

  6. Posted by DisgruntledLP | October 11, 2012 at 4:56 PM

    At least he has his writing career to fall back on http://www.amazon.com/Maiden-Serenade-Richard-Hur

  7. Posted by 7 Tour Winner | October 11, 2012 at 4:57 PM

    Try doping. Worked for me.

    Lance

  8. Posted by writing is hard | October 11, 2012 at 5:05 PM

    how to make +1 in title/

  9. Posted by HungryIntern | October 11, 2012 at 5:10 PM

    We understand your pain; we also had a hard time adapting to the changing conditions.

    ~Cincinnati Reds

  10. Posted by Guy with A.D.D. | October 11, 2012 at 5:23 PM

    What are you trying to say!?

    -The ghost of Marge Schott

  11. Posted by Pat Bateman, RBS VP | October 11, 2012 at 5:26 PM

    Can we just calm down with all this talk about watermarks please?

    I'm jumpy enough after getting tased for that horrible joke.

  12. Posted by Guest | October 11, 2012 at 5:30 PM

    You could use that $$$ to take over the laundry business in America. Lots of money to be made.

  13. Posted by HungryIntern | October 11, 2012 at 5:31 PM

    Nothing…

    ~ Schottzie

  14. Posted by guest | October 11, 2012 at 5:35 PM

    what?

  15. Posted by ray rice | October 11, 2012 at 5:35 PM

    tom brady drinks his own pee

  16. Posted by CoveredLong | October 11, 2012 at 5:37 PM

    "The firm said it will not conduct any sort of fire sale to exit positions and asked investors to stay mum about the firm's decision to liquidate…."

    Perhaps this has something to with their less than stellar returns. Loose lips sink Galleon's.

  17. Posted by Guestest | October 11, 2012 at 6:33 PM

    We remain a distressed, investment vehicle.

    - PR

  18. Posted by UBS sucks | October 11, 2012 at 6:42 PM

    They can work for UBS, we suck even more

  19. Posted by S Ermotti & S Hester | October 12, 2012 at 12:31 AM

    This is ridiculous. There's a plethora of distressed opportunities to invest in. Come see us.

  20. Posted by long'un | October 12, 2012 at 7:02 AM

    "We are deeply frustrated, our investors on the other hand are angry, and poorer than they were, so relatively speaking we're ok."

  21. Posted by santa | November 8, 2012 at 11:18 PM

    If your sliding glass door does not move or is falling off the track, you may be able to correct the problem by simply repairing the plastic rollers. The rollers may crack or wear down over time, especially if the tracks are dirty. Thanks.
    search engine optimization toronto

  22. Posted by santa | February 6, 2013 at 8:06 AM

    In finance, investment is putting money into something with the expectation of gain, usually over a longer term. This may or may not be backed by research and analysis. Most or all forms of investment involve some form of risk, such as investment in equities, property, and even fixed interest securities which are subject, inter alia, to inflation risk. Thanks.
    Regards,
    Creative Bioscience