Goldman Sachs Flagship Hedge Fund Lost 5.7% in February

i still dont understand how they lost. according to greenspan and bernanke hedge funds arbitrage between different markets and make markets more efficient by trading the tiny differences that exist between them.

yeah rightoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo.

they were long stocks up to the ying yangs and sold them all out below 12000. nice one goldman.
 
Quote from ByLoSellHi:

Goldman Sachs Flagship Hedge Fund Declined 5.7% in February

By Jenny Strasburg

http://www.bloomberg.com/apps/news?pid=20601087&sid=a0boyascuB6o&refer=home

April 3 (Bloomberg) -- Goldman Sachs Group Inc.'s Global Alpha hedge fund lost 5.7 percent in February, hurt by wrong-way bets on stocks, global bonds and currencies including the Japanese yen.

The decline left the $10 billion fund down 2 percent for the year through Feb. 28, according to a letter sent to investors this week from Eric Schwartz and Peter Kraus, co-heads of New York-based Goldman's money-management division.

Global Alpha, Goldman's largest fund, fell about 9 percent in 2006. It was the first decline in seven years and followed an almost 40 percent gain in 2005.

Goldman's hedge-fund assets rose 48 percent to $32.5 billion in 2006, making it the second-largest U.S. hedge- fund manager behind New York-based JPMorgan Chase & Co., according to a survey by Absolute Return magazine. JPMorgan managed $34 billion at the end of December.

Goldman spokesman Christopher Williams declined to comment.

Hedge funds are private, largely unregulated pools of capital whose managers can buy or sell any assets and participate substantially in profits from money invested.
More...

i was down in feburary as well
since first half of feb just ran up mindlessly
the correction saved my ass
 
Quote from duard:

Schadenfreude is best described as "twisting of the knife after stabbing a false friend in the back." Nothing like the added pleasure of that twist even when the victim is knowingly beaten. The only additional one uppmanship is when as the victim falls to the ground kick the head hard or step on the chest cracking ribs.
More...
HMM..this word, to me, conjurs up memories of two Lufthansa ticket agents smiliing ear-to-ear as they informed me that it "was not possible" for me to board the last flight of the day from Frankfurt to Milan because I had just missed the 15 minute cut-off time by 1 minute.
 
You must log in or register to reply here.
Back
Top