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‘Shutdown The Book’.
I've been meaning to pen a quick update on hedge fund performance in November for two days now, and I'm finally getting around to it.
We've spent what might very fairly be described as an inordinate amount of time covering the recent trials and tribulations of the fundamental/discretionary crowd following the October equity rout and ongoing volatility/market chop in November/December.
The problem, just to quickly recap, is that the Long/Short crowd looks to have taken up their exposure to a re
by therealheisenberg
December 13, 2018
Comments 0
“I’ve been meaning to pen a quick update on hedge fund performance in November for two days now, and I’m finally getting around to it.” Yes, for heaven’s sake you have been such a slacker lately!
I am pretty sure I get the most words per amount of money I spend on this subscription compared to ANY other subscription I have.
As a former HF guy I can attest to the pain I have felt in many longs and some shorts. I see a fair amount of opportunity on the long side now (as a trade for many and a core for some) while less on the short side. It is now all personal account but my gross and net is highest all year. I remain very bearish longer term for many reasons but see a tactical opportunity. But my career is over so career risk is zero so I can have patience when many can’t. I am not advocating anyone take this as advice but rather am trying to show how a former HFer LS is looking at this market.
Be smart out there, do your homework and watch your risk.
I guess it doesn’t matter whether our portfolio pain is function of self fulfilling prophesy, Twitter Madness or market “truth”. The post-18 problem will be knowing when we’ve found the bottom. Fluctuations in debt-equity correlations is not going to help us. Will repairs to trade relations be enough? How “bad” is our public and private debt problem?