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Global Alpha Up, Randy Walrus Down

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Goldman Sach's flagship fund--i.e. the central showcase for the unbridled abnormal genius that is Goldman Sachs Asset Management-- Global Alpha, which lost more money last year than almost any other major hedge fund, is back in the game. According to Bloomberg, GA rose about 19 percent through mid-June, after a 40 percent drop in 2007.

One of the problems from before, which has since been dealt with, says Robert Litterman, head of Goldman's quantitative investments, was that he and others missed the signs of the proliferation of common quant trading strategies (while in a bookstore in Malaysia, Litterman spotted a book on the topic and thought nothing of it, and same deal with the time he relieved himself in a back alley after a night of drinking, and the stain on the wall bore close resemblance to the Virgin Mary, who was wearing a tee-shirt that said "Jim Simons Is My Homeboy"). "It was like turning a light on in a dark room to see the amount of crowdedness," Litterman told Bloomberg. Now that the lights are on and Global Alpha's taken stock of the red marks all over its body from getting the shit slapped out it in the dark, things are looking up. So, congratulations, GA.
Now let's continue with today's narrative o' depression. New York's most famous masturbating marine mammal is dead. Ayveq, the Coney Island walrus who made a name for himself through frequent public self-gratification, died of a massive bacterial infection on Sunday. This is almost too much to bear. I'm going to go watch SadKermit shoot up on loop while holding for my euthanist.
Goldman's Global Alpha Fund Gains After 2007 Plunge, People Say [Bloomberg]