performance

All John Paulson Does Is Win

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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 »

  • 14 Feb 2013 at 2:55 PM

George Soros Fondly Remembers His Salad Days

By Jon Shazar

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.

Now, $1 billion doesn’t mean as much as it did in 1992. But we think George Soros can be forgiven a moment of self-satisfaction in this twilight triumph. Read more »

  • 05 Feb 2013 at 6:06 PM

January Could Have Been Worse But It Also Could Have Been Better At SAC Capital

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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.
[CNBC]

Ken Griffin Is Good Enough, He’s Smart Enough, And, Doggone It, He’ll Keep Putting Up Double-Digit Returns This Year!

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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]

John Paulson Is Up

By Jon Shazar

For the year beginning Dec. 1. Otherwise, things are not so good. Read more »

UK Hedge Fund Manager’s Chickens To Maintain The Lifestyle They’ve Grown Accustomed To In 2013

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What motivates a hedge fund manager to continue busting his ass to churn out profits year after year, once he’s already amassed a fortune most people can’t even fathom, when he could easily pack it all in and live more than comfortably without ever working another day? For some, it’s the thrill. For others, it’s the trophy’s wife’s shoe habit. For Crispin Odey, it’s the chickens.

The Odey Asset Management founder (and sausage brand ambassador)’s got a mess of high-maintenance ones and earlier this year, had architects draft blueprints of a “Palladian-style” mansion he intended to build them (seen at left), replete with a grey zinc roof, “pediments, cornice, architrave, and frieze in English oak,” and columns “hewn from the finest grey Forest of Dean standstone.” After finishing 2011 down 20.3%, things were no doubt more than a little tense over in Herefordshire, where questions of whether or not construction would have to be halted, or if they’d have to make the switch to [whispers] generic-brand feed. Certainly a moment of panic swept over Odey each day when he returned home, wondering as he turned the knob if he’d be entering an empty house, the chickens gone and a note explaining they couldn’t do this anymore on the fridge. Ran off with the general contractor because what was the point of shacking up with a money manger if the money wasn’t there? Luckily for all parties involved, it won’t have to come to that; according to Bloomberg Markets’ annual ranking of the top performing hedge funds, performing under pressure is one of Odey’s specialities. Read more »

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 Tickets

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Whether they want to accept the olive branch or not is their choice. Read more »

  • 05 Dec 2012 at 5:27 PM

Whatever Doesn’t Kill Steve Cohen Makes Him Stronger

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…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]

Don’t Count Out John Paulson Just Yet

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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 »

Peyton Manning Isn’t The Only Legend In The Midst Of A Return To Glory

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“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]

Dear Greenlight Investors

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August performance. Read more »