The time has come for the monthly status check on the performance of the now largely anachronistic hedge fund industry: a 2 and 20 anachronism (whose every phone call is monitored by the FBI nowadays, thanks Stevie Cohen) because in Bernanke's centrally-planned world, risk is verboten, as are any selloffs, and if indeed one does come and the Fed has no "tools" left to counteract it, no amount of hedges will protect an investing community that has now largely eliminated any short positions on their books. So without further ado, here are the best and worst performing hedge funds of 2013.
Ah, the hedge fund manager extravaganza that is our winter hiatus. A walk on the beach or a day camping in the wilderness and you can almost hear the life-affirming whistle of the northbound wind as it whistles through the Arctic and Antarctic ice caps, and provides the New York Times with numerous features this week. Last week we had the crushing news that Blackstone, the world's largest private equity firm, ran out of money. This week, we learned that Taconic Capital is going to be sold after trading a mere $262 million during 2013, and that Clayton, Dubilier & Rice wants to divest one of its funds by the end of 2013. d2c66b5586