HFM Week – Rarely in short supply as it is, New Year optimism was given a further boost through December as stock markets on both sides of the Atlantic reacted positively to better-than-expected economic developments. Traders of every ilk finished the year on a high, and hedge fund managers, by and large, were no different.
John Paulson got his Christmas presents early, his flagship Advantage Fund up 14% for the first half of December alone, according to reports (a near miraculous turnaround from what looked to be a lost year for him as recently as September), while Appaloosa Management’s David Tepper was also full of festive cheer, offering early redemptions to long-term investors after a second stellar year on the trot for his Thoroughbred Fund.
