Thu, Sep 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Greenlight Capital hedge funds outperform main hedge fund indices in 2011

Tuesday, January 24, 2012

Greenlight Capital LP, Greenlight Qualified LP and Greenlight Capital Offshore returned 2.9%, 2.7% and 1.9% in 2011 respectively, according to an investor letter obtained by Opalesque. Greenlight Capital LP has returned 1,685% since inception in May 1996, or 20% annualised.

By comparison, the Morningstar MSCI Composite Hedge Fund Index ended the year down 2.7%.

"Never has so much work gone into making 2%," says the letter. "For all its ups and downs, dramatic headlines and extremely high daily volatility, the market ended the year just about where it started."

The firm found "very few places to make money". Its largest winner was a short on First Solar, the worst performer in the S&P500. Greenlight also invested in various CDSs on the European sovereign debt. The biggest loss came from, as in the previous year, bets on a weakening of the Yen.

The global environment is very complicated, comments New York-based Greenlight Capital. On the one hand, the Fed took a momentary break from quantitative easing and inflation in oil and food abated. On the other, Asia may be in worse shape than a year ago and could be a drag on the world economy in future. Finally, the European crisis is not getting any better, despite the announced meetings and solutions (which oftentimes won’t work) while the crisis deepens. "Lather. Ri......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style