Sorry Letters, Accident Scenes and Hedge Fund Asteroids
| Aug 19th, 2007 | Filed under: Hedge Fund Industry Trends | By: Alpha Male |
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Due to the overwhelming amount of news coming out of Hedgistan last week, we take a break from our usual in-depth analysis and opt for more salacious stories of hedge fund carnage…
Mea Culpa Capital Management, LLC
Thanks goes out to AllAboutAlpha media partner Opalesque, for assembling a number of recent letters to investors from quant managers.
In case you don’t have the time to read them all, we’ve provided our take on the main points below:
AQR: “Okay, so computer models don’t always work. But that’s only part of our business. We have tons of other funds! Move along now folks. Nothing to see here….”
BGI: “This creates lots of new opportunity if you have the capital. And hey, we’re huge!”
Black Mesa: “Couldn’t stand the heat…Got out of the kitchen…Still really hungry, though, and plan to raid the fridge at the earliest possible opportunity.”
Highbridge: “Hey. Look around. It’s not just us!”
Renaissance: “Hmmm. It seems that other funds had the same trades as us. Who knew?!”
Sowood: “I guess our kids aren’t going to get into Harvard now, right?”
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