New York (HedgeCo.Net) June was a tough month for the overall market with the S&P 500 losing 2.1% over the course of the month as the debt crisis in June spooked investors in the last week and that drop was the difference in the month. With the sudden reversal, some of the more recognizable names in the hedge fund industry ended up taking losses for the month.<\/p>\n
According to a recent New York Post article, Greenlight Capital which is run by David Einhorn, dropped 4.3% during the course of the month and that loss put the fund in the red for the year. Mr. Einhorn wasn\u2019t alone for the month of June though. Owl Creek which is run by Jeff Altman lost 1.6%, Barry Rosenstein\u2019s Jana Partners lost 1.0%, Dan Loeb\u2019s Third Point lost 0.8%, and Bill Ackman\u2019s Pershing Square dropped 0.5% during the month. <\/p>\n
The HedgeCoVest Composite Models fared much better in the month of June than the hedge funds mentioned above. The five long-only models did lose 2.45% collectively during the month, but one model did manage a positive return. <\/p>\n
The five long\/short composite models lost 0.13% for the month, but three of the five managed to log a gain. The short-only models took advantage of the decline and logged a 2.5% gain collectively and four out of the five models were profitable during the month.<\/p>\n
Rick Pendergraft
\nResearch Analyst
\nHedgeCoVest<\/p>\n","protected":false},"excerpt":{"rendered":"
New York (HedgeCo.Net) June was a tough month for the overall market with the S&P 500 losing 2.1% over the course of the month as the debt crisis in June spooked investors in the last week and that drop was […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-49033","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/49033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=49033"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/49033\/revisions"}],"predecessor-version":[{"id":49034,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/49033\/revisions\/49034"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=49033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=49033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=49033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}