Starting today! Every day before it (not including 2007-2009) shall never be spoken of again! Don’t even entertain the thought of uttering ’2010-2012,’ in his presence or otherwise! Don’t say it, don’t even think it! Someone run out and get some holy water because we are witnessing a rebirth! Today is the first day of the rest of his life! Read more »
Somewhere in midtown Manhattan, an 82-year-old man is wistfully gazing out the window, remembering when he was young (younger, anyway) and brash and really ruined Nigella Lawson’s father’s day.
Hedge fund SAC Capital, still fighting distractions on multiple fronts, churned out a modestly positive January with returns of about 2.5 percent, say two people familiar with the matter. SAC’s returns, which came during a month in which the Standard & Poor’s 500 rose 5 percent, followed a standout 2012 in which the firm’s main fund, SAC Capital Partners, was up 13 percent. SAC Capital’s January performance also lags that of other prominent stock-trading funds, including Omega Advisors and Jana Partners, both of which were up about 5 percent, according to people who have reviewed their numbers.
Ken Griffin Is Good Enough, He’s Smart Enough, And, Doggone It, He’ll Keep Putting Up Double-Digit Returns This Year!By Bess Levin
Citadel, the Chicago-based fund manager, trumpeted “an exceptional year” at its two main hedge funds, announcing annual returns of about 25 per cent in a letter to investors. Ken Griffin, Citadel’s founder and chief executive, said flagship funds Wellington and Kensington made a net return of 25.9 per cent and 24.9 per cent for 2012…The 2012 results follow a turbulent 2011 when Mr Griffin scaled back his ambition to build a more diversified financial institution to take on the likes of Goldman Sachs in investment banking. He set out three priorities for 2013: “to be highly profitable, to improve our productivity and to strengthen our teams.” [FT]
2012 Glenview Performance Means Larry Robbins Has Enough Cash On Hand To Retrofit Backyard Rink With A Row Of Seats For B-D List Celebrities And Pay Surly Neighbors To Rip TicketsBy Bess Levin
Whether they want to accept the olive branch or not is their choice. Read more »
…even as it digests the latest government allegations of a former employee’s insider trading, SAC has turned around another positive month, leaving it up nearly 12 percent for the year through November, said someone familiar with the company’s performance. [CNBC]
Yes, he’s on track to record another annus fucking horribilis, but he’s still got another 19 trading days to turn this thing around. Anything could happen. Read more »
“John Paulson, the billionaire hedge- fund manager coming off record losses in 2011, reported increases in most of his funds in August as rising stock markets lifted the value of holdings, according to two people briefed on the returns. Paulson’s Gold Fund led gains with an 11 percent jump in August, which reduced losses this year to 15 percent, said the people, asking not to be named because the information is private. The Advantage funds, which seek to profit from corporate events such as takeovers and bankruptcies, and Paulson Enhanced, which aims to make money from companies involved in mergers, also rose last month.” [Bloomberg]