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From Kirsten Bischoff, Opalesque New York : As hedge fund strategies have declined across indices, many short-biased funds are enjoying positive returns across an otherwise bleak industry landscape. But even as many in this strategy have done well this year, they have also had their share of obstacles. The largest of these was a period of increased regulation on stock shorting during the fall of 2008.
The regulatory rules, since repealed have resulted in an ongoing debate about the practices of short sellers, which has sparked renewed calls for the uptick rule (sounded last week from Charles Schwab and former SEC Commissioners Harvey Pitt and Roel Campos, source). Things change quickly these days and although the discovery of the Madoff fraud it is almost certain that the hedge fund industry as a whole will now be further regulated it remains to be seen what level of regulation will be leveled at short sellers specifically.
Connective Capital’s short fund returns +85% YTD
For the short-biased fund CCII, managed by California-based Connective Capital, 2008 has been a year of +85% returns (YTD through November). CCII maintains a 100% short-portfolio and is managed by Rob Romero. Recently, Opalesque had the chance to speak with Romero about some of the areas which the Fund has focused during this volatil...................... To view our full article Click here
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