January’s numbers are in and they are… not great. Especially for Andrew Hall of Phibro fame, who, if he is in fact God, is proving the almighty rather fallible.
Hedge funds held up better than stocks in January, falling an average of 0.1 percent as global equities slumped amid a selloff in emerging-market currencies and signs of weakness in China.
Bridgewater Associates LP’s Ray Dalio gained 1.1 percent as of Jan. 28 at his Pure Alpha II fund, according to a person familiar with the matter….
At Clint Carlson’s Carlson Capital, which is based in Dallas and manages $8 billion, the Double Black Diamond fund advanced 1.5 percent last month and the Black Diamond Relative Value Partners fund rose 2.1 percent, according to the person….
Among managers posting declines, Tudor Investment Corp., the $13.7 billion Greenwich, Connecticut-based macro firm run by Paul Tudor Jones, lost 2.1 percent last month in its Tudor BVI Global fund, said a person familiar with the matter.
Brevan Howard Capital Management LP, whose $40 billion in assets make it Europe’s largest closely held hedge-fund firm, posted a 1.6 percent decline in its emerging-markets hedge fund, run by Geraldine Sundstrom, according to a person familiar with the St. Helier, Jersey-based firm.
Moore Capital Management LLC, the $14.9 billion New York-based firm run by Louis Moore Bacon, fell 1.1 percent last month through Jan. 23 in its Moore Global Investments fund, according to a person familiar with the matter. Moore Macro Managers dropped 0.1 percent during the same period.
Andrew J. Hall, the oil trader whose $100 million compensation while at Citigroup Inc. ignited controversy in 2009 over pay packages at bailed-out banks, posted his commodity hedge fund’s biggest annual loss last year.
Astenbeck Capital Management LLC, the $3.5 billion fund company that is 80 percent owned by Hall and 20 percent by Occidental Petroleum Corp., lost 8.3 percent in its main fund, according to an investor letter obtained by Bloomberg News. That loss, the second in the six-year-old fund’s history, was extended in January with a 2.1 percent decline…
A former trader at BP Plc, Hall has been called “God” by competitors because of the prescient sense of oil market movements that he has used in the course of more than 30 years to reap billions for a number of different Phibro owners, according to the 2010 book “Oil” by Tom Bower.
Hedge Funds Lose Less Than Stocks in Month as Dalio Gains [Bloomberg]
Phibro’s Hall Reports Largest Drop at Astenbeck Fund [Bloomberg]
These big hedge funds got crushed in January [NetNet]