Sun, Jul 24, 2016
A A A
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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe