Market Folly

Farallon Capital: Another Hedge Fund Likes CapitalSource

Andoverman, you didn't miss anything. The original title of the article is different on our site MarketFolly ("Farallon Fancies Capitalsource"). The SA Editors re-titled it and you are correct in insinuating that it is misleading a bit. We were merely pointing out in the article that is their largest US equity long position by a wide margin.

Passport Capital Chooses Gold over Education

No problem ksmithdc glad you enjoyed it.

Maverick Capital's 13F Filing for Q408

thanks for the comment. They added to their BRK-A position, so they added the A shares. Then they reduced their position in BRK-B, the B shares. The article should say BRK-B under the "reduced" column. I apologize for any confusion and I'll notify SA to edit this. Thanks.

Hedge Fund Portfolio Tracking: Renaissance Technologies (Jim Simons), Q3 2008

DMoser, completely agreed. And that's why we have listed a note in the article saying that tracking Renaissance by 13F is not really useful, but more for fun since people are interested in what they are doing. Perhaps we should have made the note in bold or more prevalent, but there is one within the article. Thanks for the comment, we'll make it bold next time around.

Hedge Fund Portfolio Tracking: Renaissance Technologies (Jim Simons), Q3 2008

Rolex18K: We've selected a list of managers who have a *proven* track record of long term outperformance. We're merely providing a resource for investors who wish to get inside these manager's heads. It can be tedious to go through and calculate % changes from quarter to quarter for each hedge fund, having to go line by line, position by position. We're simply trying to save investors some time who want this information. If it is not of use to you, then don't use it.

Also, you'll probably be interested to know that you *CAN* make money simply by mimicking their portfolios, as Mebane Faber has proved with his Alphaclone. Portfolios constructed using selected managers with proven outperforming track records have outperformed the s&p. Mebane's done great work, for instance tracking 'Tiger Cub' funds who we track on our blog. If you had selected a portfolio combo of their holdings, you would have outperformed the markets by 12% a year. You could also hedge the portfolio with a s&p hedge and then go long the various holdings and you could see the following results: Annualized Return: 13.5%, Volatility: 16.1%, MaxDD: -23.9%.

So, while you're entitled to your opinion that it does not work, there is a ton of numerical evidence that it indeed does work. But, in the end, we're simply providing a resource for investors. Thanks for your comment.

Long/Short Hedge Strategy for Smaller Cap Stocks

we track hedge funds on our blog and have noted that Art Samberg's Pequot Capital Management recently added to his APOL position. we think its prudent to keep an eye on the 'big money' in hedge funds in addition to tracking the fundamentals of a company. also there have been a ton of hedge funds in and out of GILD over the last quarter (too many to list): www.marketfolly.com/20...

Hedge Fund Tracking: Andreas Halvorsen's Viking Global, Q3 2008

deee,
these positions were as of september 30th, 2008. so obviously some time has elapsed since they had to disclose. the filings are released on a lagging basis.

Hedge Fund Tracking: Lee Ainslie's Maverick Capital, Q3 2008

maverick as in the dallas mavericks i believe... as the fund's capital founders were based in dallas