Wed, Sep 3, 2014
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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the study

  2. Legal – GE Capital and Petters-related hedge fund in legal battle, SEC sanctions Donald Brownstein's hedge fund over conflicts of interest[more]

    GE Capital and Petters-related hedge fund in legal battle From Startribune.com: A billion-dollar legal battle is brewing in Florida over who knew what and when about the decade-long Ponzi scheme operated by former Wayzata businessman Tom Petters. The bankruptcy trustee for two failed Flo

  3. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  4. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  5. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius