Another hedge fund falls off a cliff

Quote from crgarcia:

Drake's rocky passage

Once a golden child of the hedge fund industry...whose flagship fund returned an astounding 41% in 2005, has been in hot water for several months as a series of large trades moved against the fund.
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THIS is a very key point for traders. There are many here who claim to be "successful" traders.

That is, until "a series of large trades move against them", and we don't here from them anymore.

Successful and Profitable are two different things!!!!!
 
Quote from TraderZones:



Successful and Profitable are two different things!!!!!
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So true, I am always right, doesn't mean I make money, but thats the beauty of the markets, either the money is there or it is not. No arguments!
 
Quote from crgarcia:

Soon after, the fund was forced into an all-too typical scenario: Increased margin requirements and requests for additional collateral. Drake's letter also references "predatory trading" with respect to its counter-parties, the big brokers. This means that dealers are no longer risking their own capital, or even providing narrow bond bid-ask spreads, to Drake in a bid to win the fund's trading business. In essence, the brokers know that the fund is weak and have little risk in trading against it.
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What does "trading against it" means? Is this a public admission that brokers trade against their customers?

Ron
 
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