Exclusive – Blue Mountain Doubles Down On Credit Exposure After Mixed 2018 And Insistence That PG&E Is “Solvent”

2018 was a year many long-short equity hedge fund managers would rather forget. Volatility returned with a vengeance and caught many managers off guard, particularly in the fourth quarter. The S&P 500 declined by more than 9% in December alone. Q4 hedge fund letters, conference, scoops etc Against this backdrop, Blue [...]

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Michael Mauboussin: Who Is On The Other Side?

Seth Klarman once said that in investing, whenever you act, "you are effectively saying, I know more than the market. I am going to buy when everybody else is selling. I am going to sell when everybody else is buying." Q4 hedge fund letters, conference, scoops etcHe called this mentality, [...]

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Hedge Fund 13F Round-Up For Q4 2018

Below is a 13F Roundup for some high profile names for the fourth quarter of 2018. Q4 hedge fund letters, conference, scoops etc These statements are generally seen as a barometer of hedge fund sentiment, even though they are filed several weeks after the end of the quarter to which they relate. The [...]

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New Accounting Rules May Take Quants By Surprise

Quant hedge funds are being caught out by new lease accounting rules brought in at the beginning of this year, that's according to a research note published earlier this week by Morgan Stanley. Q4 hedge fund letters, conference, scoops etc cloudhoreca / Pixabay Under new US and GAAP and IFRS accounting rules, [...]

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After Losing 40% in 2018, Regal Bounces Back In Jan

Regal Funds Management's Atlantic Absolute Return Fund, lost nearly half of its value in 2018, reporting a decline of -41% for the year to the end of December, according to investor correspondence that has been reviewed by ValueWalk. Q4 hedge fund letters, conference, scoops etc rawpixel / Pixabay The firm has gotten [...]

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Alkeon: Tech Stocks Are “Remarkably Undervalued”

Alkeon Capital Management's Alkeon Growth Partners outperformed its benchmark, the MSCI AC World index in 2018. The fund ended the year down -11.3%, compared to a loss of -13.1% for the benchmark. In the fourth quarter, Alkeon lost -4.7% compared to the benchmark return of -11.2%. Q4 hedge fund letters, [...]

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Charlie Munger On Defining Your Circle of Competence

"Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle." -- Warren Buffett Warren Buffett often tells investors that they should only be looking for potential investment opportunities that fall inside their circle of competence, [...]

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DG Value: Annualized Return of 23.9% With 1.7 Sharpe

Dov Gertzulin's DG Value Partners ended 2018 with a mixed performance. Q4 hedge fund letters, conference, scoops etc Skitterphoto / Pixabay The firm runs two portfolios based on the same strategy, one concentrated with a typical position size of 15 to 20%, and the other more diversified with the average position not [...]

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UBS: Fund Flows Tell Us Nothing

During the fourth quarter of 2018, investors pulled a net $13.8 billion from US high yield exchange-traded funds and mutual funds. Over the same time frame, US high yield bonds suffered a negative total return of 4.5%. Q4 hedge fund letters, conference, scoops etc RyanMcGuire / Pixabay Most investors would look at [...]

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Thiele Capital Management: Seeking Value In Small-Cap Lending

Thiele Capital Management's Thiele Marketplace Income fund returned 2.7% for the fourth quarter of 2018. For the year to the end of December, the firm produced positive net returns of 13.4%. Q4 hedge fund letters, conference, scoops etc geralt / Pixabay Following this performance, the Thiele Marketplace Income fund has produced a [...]

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