Things have gone from bad to worse for Paulson & Co. The New York-based hedge fund giantâs largest hedge fund, already down 22% through the end of July, has lost about half as much again since the beginning of this month. Both the Advantage Plus and Advantage funds are down between 10% and 11% in August, CNBC reports. Advantage was down about 15% through July. On the bright side, the Paulson funds havenât been hit quite as hard as the Standard & Poorâs 500 Index, which has lost 13.37% this month. Paulsonâs funds were down by double-digits as late as September of last year before rallying to end 2010 up 11%. But the funds were never down by this much at any point last year. http://www.finalternatives.com/node/17675 Ouch.
Two top, if downtrodden, hedge funds bucked their peers in July to get back into the black. While the average hedge fund muddled through a middling (at best) month, Renaissance Technologies and Tudor Investment Corp. turned things around to start the second half. The former's Institutional Futures Fund rose 4.44% last month to bring its year-to-date returns back above break-even at 1.85%, Dealbreaker.com reports. The latter's Momentum Fund did nearly as well, rising 4.11% to bring its 2011 return to 0.71%. Both funds took it on the chin during a brutal May and June for the hedge fund industry. RenTech's largest fund lost 4.95% in May and 1.94% in June, while Tudor Momentum dropped 6.75% and 1.6%. Tudor's Tensor Fund also posted gains last month, rising 1.48%. But it remains down 6.08% on the year. http://www.finalternatives.com/node/17667
Yeah, but he is a professional. And he has a long term live track record, so large instit. will invest in his funds. Both qualities meaning big fat zero, if he does not use common sense.