Skip to main content

Here’s A Management Fee Well Spent

The world is boring Rhicon Currency Management right now.
  • Author:
  • Updated:
By [CC BY 2.0 ], via Wikimedia Commons

By [CC BY 2.0 ], via Wikimedia Commons

These days, Peter Jacobson wakes up and surveys the globe. Such is the job of a foreign-exchange hedge-fund manager. And for the last three weeks, he’s then just gotten back into bet and waited for something to get him going. He’s still waiting.

The $700 million hedge fund shut down the bulk of its positions roughly three weeks ago, according to managing director Peter Jacobson…. The simple reason is that nothing looks compelling, Jacobson said….

“Not trading is actually a trade decision,” said Jacobson, who splits his time between Singapore and Sydney. “I don’t see anything that makes sense to me, so there’s absolutely no reason why I should have positions on….”

“There is always another trade, you just have to wait for it. But if you’re losing money, you may not have enough capital to trade that in the end,” he said. “So just be patient.”

And that’s the bright side for those currently paying Rhicon Currency Management to do literally nothing with their money: They are not presently losing any of it.

The fund’s intra-month strategy is “completely flat,” while roughly half of the money in its one-week-or-less book is invested…. The restraint has served Rhicon well: the hedge fund is up nearly 5 percent in a year that has seen most macro managers stumble.

This $700 Million Hedge Fund Just Took Its Money Off the Table [Bloomberg]


Like this but worse. By Anonymous [Public domain or Public domain], via Wikimedia Commons

For British Bankers, Brexit Might As Well Already Be Here

The pounds are very much not taking care of themselves.

(Getty Images)

Here’s The Thing About Leverage

John Paulson knows what we’re talking about.


Area Hedge Fund Manager Secures Eventual Knighthood

Pippa Middleton settles for an asset manager.


The Bahamas Owe Louis Bacon A Serious Apology

turns out that even alleged suborners of murder and KKK officials have rights in The Bahamas.