Tue, Sep 23, 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

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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Outlook - Julian Robertson: There are two bubbles that can bite us[more]

    From Businessinsider.com: Legendary hedge fund manager Julian Robertson gave a warning about two bubbles that could "bite us" at Bloomberg Market's Most Influential Summit. "I agree with the fact that the economy is definitely getting better. I think the cause of that is two bubbles that will

  3. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  4. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  5. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e