Even the pros blow up

[trackstar]

Quote from nazzdack:

1) ?.........Say goodbye to the inheritance!
2) The article says they have 40-million dollars of cash on hand. They lost more than 700-million! :eek:
3) Ebullio, translated from Italian to English, means "We are morons".

Quote from heech:

That's 1.47 million after redemptions and -95.83% YTD performance.

hah, wow, i guess i gave them the benefit of the doubt!

They are worse than a non-pro!

 

[heech]

Quote from TheGoonior:

The pamphlet does have some brilliant gems, though. These include the understated "whilst our NAV is impacted to the low side," the oxy-moronic "our opportunistic, aggressive yet conservative Capital Manager," and the mention of option purchases which was "money well spent and essential to manage downside risk" (evidently -69% in Jan and -85% in Feb is risk management).

I'm not very familiar with the markets they mentioned. Did they have large positions on some illiquid contracts or something?

It looks like they were heavily short all of these non-ferrous metals? But seriously, how out of whack are your options hedge versus your level of leverage, for you to have this kind of a loss... while the options hedge only kicked in +5%?

 

[jnbadger]

Another fund charging 2 and 20 which has been in business 2 years.

Not a surprise at all.

 

[darwin666]

Quote from Clubber Lang:

"our total return for the year is –95.83 pct
and -89.63 pct since inception"



"Ebullio Capital Management LLP is also strong and
has, as a token of confidence in the future, waived
its 2 pct management fee for 2010."

----------------------


Thank goodness they waived the 2% fee !!!!

WOW. . waived the 2%... how kind of them. !

 

[CaptainObvious]

Pro's smoe's, the "pro's" blew up the whole god damn economy. Once again, the suits leave me less than impressed. That's other than their ability to convince people to give them money over and over and over and over and over again...now that's impressive.

 

[Biog]

Quote from Halal Burger:

Ebullio Capital Management had a 95% drawdown in a month. Don't feel too bad when you're going through a hard time, even the pros really really screw up!!

Could this be the problem??

http://uk.reuters.com/article/idUKL955173820091009?pageNumber=2&virtualBrandChannel=0&sp=true

"Ebullio fund controls over 90 pct of LME tin -trade"

 

[rew]

Finally, a "pro" whose money management is vastly worse than mine.

 

[heech]

Quote from Biog:

Could this be the problem??

http://uk.reuters.com/article/idUKL955173820091009?pageNumber=2&virtualBrandChannel=0&sp=true

"Ebullio fund controls over 90 pct of LME tin -trade"

Does the LME not have position limits? What about the LIFFE?

This is news to me. I had no idea the UK was so loose on this issue.

 

[Biog]

Quote from heech:

Does the LME not have position limits? What about the LIFFE?

This is news to me. I had no idea the UK was so loose on this issue.

No clue either, just caught my attention when researching what happened. Ultimate liquidity trap, especailly when looking at tin chart for past 3 months.

 

[heech]

Something seriously broke down here. If I was an investor in the fund, I wouldn't be satisfied with the explanation in this newsletter.

http://www.ebullio.co.uk/thecommodityfund.html

"The objective for the margin to equity ratio is no greater than 20% on a portfolio level and no greater than 10% in any single commodity."