May was the worst month for hedge funds since October 2008. The HFRX Global Hedge Fund Index lost 2.6 percent and Louis Moore Bacon got hammered. Not Boaz Weinstein. Yeah, he might have lost $1 billion at Deutsche Bank, but that’s old news. Boaz’s Saba Capital (Hebrew for grandfather) bucked the trend in May, up 1.6 percent for the month and 5.8 percent for the year.
Here’s some other winners and losers from May: Read more »
Last week, we told you about certain Tiger Cubs that were having a rough go of it this month. Today, we get some updated numbers thanks to Hedge Fund Alert. Eddie Lampert’s ESL Investments is getting walloped, off 15 percent so far this month.
As one investor put it: “A lot of guys are long and wrong in this environment.”