HowardTranslation of Financial Gobble-die-goop
From the Financial Times to reality can be a pretty big leap let's see if we can make it:
Turmoil in financial markets has inflicted significant damage ... DE Shaw and Goldman Sachs continuing to suffer losses. (These guys are totally broke since leverage of anywhere from 1/2 to 20 times is used. If they have a 25% loss, they may really have lost more than all of their capital).
DE Shaw, a pioneer of quantitative investing, has been hit hard in August. Its Valence fund is down more than 22% in the month to date, fund of hedge fund managers said. These investors estimate DE Shaw Composite, a multi-strategy fund, is down 7% for the month. (We've, lost all are capital and need the Fed to bail us out, through Bank of America, JP Morgan, or another of the usual suspects).
The flagship Goldman Sachs Alpha fund was down 16% so far this month, investors said. But Goldman’s decision at the beginning of last week to bail out its global equity opportunities fund with a $3bn (€2.2bn) injection of capital looks to have paid off. The fund rose 12% in the five days after the declaration. ( That is totally impossible BS). Among the most striking winners has been AQR Capital, whose stock selection fund soared 22.1% last week, (Yeah, on what, sub-prime MBS?)
HRJ Capital, a California investment firm that counts legendary quarterback Joe Montana on its roster, saw almost all of the gains ratcheted up so far this year at one of its hedge funds get wiped out as the US housing crisis tackled the markets.
In a letter to its investors, HRJ said its Legends Multi-Strategy Plus Fund lost 12.3% of its value in the first two weeks of August. The hedge fund - a so-called fund of funds which collects money from athletes and other wealthy individuals and invests it in other hedge funds - had been up 12.4% through July. (They are broke. Listen to the geezer, or else you are finished).
Turmoil in financial markets has inflicted significant damage ... DE Shaw and Goldman Sachs continuing to suffer losses. (These guys are totally broke since leverage of anywhere from 1/2 to 20 times is used. If they have a 25% loss, they may really have lost more than all of their capital).
DE Shaw, a pioneer of quantitative investing, has been hit hard in August. Its Valence fund is down more than 22% in the month to date, fund of hedge fund managers said. These investors estimate DE Shaw Composite, a multi-strategy fund, is down 7% for the month. (We've, lost all are capital and need the Fed to bail us out, through Bank of America, JP Morgan, or another of the usual suspects).
The flagship Goldman Sachs Alpha fund was down 16% so far this month, investors said. But Goldman’s decision at the beginning of last week to bail out its global equity opportunities fund with a $3bn (€2.2bn) injection of capital looks to have paid off. The fund rose 12% in the five days after the declaration. ( That is totally impossible BS). Among the most striking winners has been AQR Capital, whose stock selection fund soared 22.1% last week, (Yeah, on what, sub-prime MBS?)
HRJ Capital, a California investment firm that counts legendary quarterback Joe Montana on its roster, saw almost all of the gains ratcheted up so far this year at one of its hedge funds get wiped out as the US housing crisis tackled the markets.
In a letter to its investors, HRJ said its Legends Multi-Strategy Plus Fund lost 12.3% of its value in the first two weeks of August. The hedge fund - a so-called fund of funds which collects money from athletes and other wealthy individuals and invests it in other hedge funds - had been up 12.4% through July. (They are broke. Listen to the geezer, or else you are finished).
