I saw him say one time that most hedge fund managers only care about risk adjusted returns and all they (BP Capital) do is try and make big money. Sometimes they lose. They are pure speculators and that is the name of the game we play. Hey with one trade a month they are saving on commissions at least!
am i understanding this correctly: he is up 8X since inception. but down now 35% so it means he is down 35% of THAT 8X not some notaninal amount. He is close to blowing up.
Yes, but you are not accounting for withdrawals over that same period of time either. I agree that it is a pretty huge drop but I doubt that it is 35% of 8X.
he is down 10% on the year. since 2000 might be something like 7x, whatever, he beat most hedge funds and commodity index futures
As of July 31, 2008, the BP Capital Energy Equity Fund LP is down -21.63% YTD but was up 48.7% in 2004, 88.8% in 2005, 19.6% in 2006, and 23.8% in 2007. $10,000 invested in beginning of 2004 would be about $32,000~ today.