Even the pros blow up

Discussion in 'Professional Trading' started by Halal Burger, Mar 16, 2010.

  1. 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!!
     
  2. Lethn

    Lethn

    More moneh for meeeee! ;p
     
  3. He's only got to be up 2000% to get back to even.
     
  4. "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 !!!!
     
  5. 1.47 million?

    that aint no pro
     
  6. achilles28

    achilles28

    Hard to believe such incompetence gets rewarded with that much cash.

    They had 50 million AUM before the 96% "drawdown".

    Proves the fund industry is more about marketing/perception, than anything else. Cudos.
     
  7. maybe they set up an offshore account and matched all their orders into oblivion...
     
  8. 1) ?.........Say goodbye to the inheritance! :D
    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". :cool:
     
  9. heech

    heech

    That's 1.47 million after redemptions and -95.83% YTD performance.
     
  10. 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?
     
    #10     Mar 16, 2010