Fri, Oct 21, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Raging Capital Master Fund up 22% in July on strong Facebook performance

Thursday, August 08, 2013

Komfie Manalo, Opalesque Asia:

The New Jersey-based Raging Capital Master Fund, managed by Raging Capital Management, posted its best monthly performance ever in July and gained 22.0% net of all fees and expenses on strong performance by Facebook, which is also its largest portfolio.

In his monthly commentary to investors, William C. Martin, Chairman and CIO at Raging Capital, said that Facebook accounted for over 80% of the hedge fund’s returns in July. Excluding Facebook, the balance of the portfolio gained approximately 500 basis points on a gross basis, comparable to the S&P 500’s 4.95% return.

"Anyone who uses FB, of which there are about 1.1 billion users, could have detected that News Feed advertising was becoming visually more prominent and engaging and that both ad loads and the volume of unique advertisers were rapidly increasing in the second quarter," Martin told investors and added, "All we did was match this observation against proprietary survey work, dozens of due diligence calls, and meetings with industry participants."

This is only the third time that the hedge fund "position- maxed" an idea. Raging Capital, he said, is not afraid of volatility, and will swing hard when the right pitches come along. However, maintaining prudent risk management and always living to play another day are immutable rules of the game.

In the later part of July, Facebook reported revenues of $1.8bn that exceeded early estimates by Wall Street by nearly $......................

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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Macro hedge funds up 3.3% in one week on Fed and Brexit pays off[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were boosted by the strong performance of global macro funds, with the Lyxor Global Macro Index gaining 3.3% as of the week ending Oct. 11 (-1.7% YTD), Lyxor Asset Management reported. Their short on the p