Wed, Oct 1, 2014
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

Banner

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. Legal - Court throws out lawsuits related to Fannie Mae, Freddie Mac profits, Insider case by SEC is a step removed from Herbalife itself, SEC grants Citigroup waivers, easing hedge-fund curbs[more]

    Court throws out lawsuits related to Fannie Mae, Freddie Mac profits From WSJ.com: A group of Wall Street investors on Tuesday suffered a blow in their attempts to sue the federal government over their treatment of the shareholders of mortgage finance giants Fannie Mae and Freddie Mac af

  2. CalPERS’ move might alter hedge fund fees for good[more]

    Benedicte Gravrand, Opalesque Geneva: When CalPERS, the California Public Employees’ Retirement System, announced on September 15th that it was unwinding its hedge-fund portfolio, it was seen by many as is a significant blow to the sector’s appeal. The Fund is

  3. Opalesque Exclusive: Institutions eye private credit over traditional fixed income[more]

    Bailey McCann, Opalesque New York: Investing in private insurance, realty tax receivables, or investment-grade short-term accounts receivable may not spring to mind as a means of mitigating risk in a portfolio, but one firm, New York-based BroadRiver Asset Management is out to change all that. Th

  4. Short-term trading quant fund beats S&P since '09[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A relatively new multi-strategy, market-neutral quantitative hedge fund has managed to outperform the S&P500 and the HFRX Global since 2009. New Jersey-ba

  5. Unconstrained bond funds: Where hedge fund strategies meet mutual funds[more]

    From CNBC.com: For all the talk and buzz around indexes, or passive investing, the next big thing for bond mutual fund investors may be strategies that are the exact opposite. The rapid growth of "unconstrained bond funds" has been thrust into investor spotlight given last Friday's stunning news tha