Market Folly

Hedge Fund Tracking: Tontine Associates (Jeffrey Gendell), Q3 2008

DFSX,

good point about many of the holdings being victim of relentless shorting. obviously there was some 'front running' going on in positions that suffering hedge funds like tontine and atticus were holding.

i don't think we've taken "delight" in the fact that he's performed poorly this past year. we're merely stating the facts that he is a solid investor with a solid track record who simply had an astonishing year. we simply highlighted the irony in their firm's name. even a biased reader would have to admit that it is slightly ironic.

there are definitely some winners in gendell's portfolio, you are certainly correct. however, seeing as these holdings were only as of september 30th, we believe that not all of the "fire sales" are correctly recorded yet and we will be waiting til the next 13F filing to get a better idea as to where his portfolio stands. after all, october and november are where the real pain came. but, upon quick glance, PWR and KBR certainly seem to be a good choices though. we'll wait it out though until next round to get more clarity. thanks for the comment.

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