End Times and Current Events
November 29, 2022, 12:53:29 pm
Welcome, Guest. Please login or register.

Login with username, password and session length
News: "Search the scriptures; for in them ye think ye have eternal life: and they are they which testify of me." John 5:39 (KJB)
 
  Home Help Search Gallery Staff List Login Register  

Watch California

Shoutbox
August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
September 14, 2017, 04:31:26 am Christian40 says: i have thought that i'm reaping from past sins then my life has been impacted in ways from having non believers in my ancestry.
September 11, 2017, 06:59:33 am Psalm 51:17 says: The law of reaping and sowing. It's amazing how God's mercy and longsuffering has hovered over America so long. (ie, the infrastructure is very bad here b/c for many years, they were grossly underspent on. 1st Tim 6:10, the god of materialism has its roots firmly in the West) And remember once upon a time ago when shacking up b/w straight couples drew shock awe?

Exodus 20:5  Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;
View Shout History
Pages: [1] 2 3 4   Go Down
  Print  
Author Topic: Watch California  (Read 9992 times)
Psalm 51:17
Global Moderator
Hero Member
*****
Offline Offline

Posts: 28357


View Profile
« on: June 14, 2012, 02:28:42 pm »

http://www.bloomberg.com/news/2012-06-14/sinclair-to-liquidate-hedge-fund-after-lacking-edge.html


California Hedge Fund Is Latest Europe Crisis Casualty

 By Saijel Kishan - Jun 14, 2012 11:10 AM CT

Hedge-fund manager Paul Sinclair is the latest casualty of Europe’s sovereign-debt turmoil, almost six thousand miles away from the epicenter of the crisis.

Sinclair, who is based in Los Angeles, is liquidating his $458 million health-care equities fund, Expo Capital Management LLC, after more than five years, as political decisions made on the other side of the globe have undermined his stock picks and spurred losses for a second year.

“I don’t have an edge on Greek elections, the Spanish banking system, what the European Central Bank, the International Monetary Fund, the Chinese government, Angela Merkel, or the U.S. Federal Reserve will do,” he said in a telephone interview yesterday.

Sinclair, 41, said that over the past year he’s found it increasingly difficult to make money because of the macroeconomic environment, and that investing in health care since 2004 has left him “physically and mentally exhausted.” He said he chose to return money to investors, which he plans to do by the end of the month, rather than hold cash and charge them fees.

Billionaire energy trader John Arnold, former Morgan Stanley co-president Zoe Cruz, and Duke Buchan III are among managers who have shuttered hedge funds in the past year as Europe’s sovereign-debt crisis has roiled global markets. The industry last month posted its biggest loss since September as stocks slumped on concern Greece may exit the euro and the global economy is weakening.

‘Tricky Markets’

“It’s a confluence of tricky markets, super-cautious investors and a tough fundraising environment that’s making it a difficult time for hedge-fund managers,” said Steven Nadel, a partner at New York-based law firm Seward & Kissel LLP, which advises hedge funds.

Sinclair said he has most of his liquid net worth invested in his fund and was no longer comfortable putting it at risk when markets are subject to the actions of policy makers globally.

He said he plans to spend the rest of the summer sleeping and relaxing and may take up a new hobby, according to a June 9 e-mail he sent to clients. Sinclair said he would continue to follow the health-care industry and is keen to see how it is shaped by a U.S. Supreme Court decision on President Barack Obama’s health law overhauls and the November presidential elections.

Returning client money “is an unusual move but fair and would be welcomed by investors,” said Graziano Lusenti, founder of Nyon, Switzerland-based Lusenti Partners, which advises clients on investing. “Most hedge funds would try to hold onto the money for as long as they can.”

Liquidations Rise

Liquidations in the hedge-fund industry rose to 775 last year, the most since 2009, according to Hedge Fund Research Inc., a Chicago-based research firm.

Fortress Investment Group LLC, based in New York, last month said it will liquidate its $500 million commodities fund run by William Callanan after losing almost 13 percent in the first four months of the year.

Arnold also said the same month that he plans to close Centaurus Energy Master Fund in Houston. Cruz, the former Morgan Stanley executive, is liquidating her $200 million hedge fund after losing 8 percent last year.

Buchan, a New York-based hedge-fund manager, cited the European debt crisis as one of the reasons behind the closing of his equity hedge fund Hunter Global Investors LP.

“Markets seem to be driven more by the latest news out of Europe than by a company’s earnings prospects,” he said in a Dec. 8 investor letter. “We have not weathered the ensuing volatility well.”

Moore Traders

At least three hedge funds run by former Moore Capital Management LLC traders have shuttered in the past seven months after losing client money. They are Salute Capital Management, run by Lev Mikheev, Avesta Capital Advisors LLC, founded by William Tung and Tim Leslie’s JCAM Global fund.

Sinclair’s Expo Health Sciences Fund lost about 6 percent this year through May, after falling 8.7 percent in 2011, the hedge fund’s first year of negative returns, he said in an e- mail. The fund has returned about 50 percent since its 2007 inception, net of fees.

Hedge funds slumped 2.9 percent in May and 1.3 percent this year, according to data compiled by Bloomberg. They lost 5.8 percent last year and a record 19 percent in 2008, the data show.

Market Correlation

The turmoil in the global markets has spurred stocks across industries to rise and fall in tandem. The relationship between price fluctuations for health-care stocks and the rest of the market has tightened. The 30-day correlation coefficient between the MSCI World Index and its members in that industry is 0.92, compared with the average since 1995 of 0.73, according to data compiled by Bloomberg. Readings of 1 mean prices are moving in lockstep.

Sinclair employed a seven-person team with offices in San Francisco. Before he started his hedge fund, Sinclair worked at Vantis Capital Management LLC, a hedge fund in Pasadena, California, where he managed a health sciences fund from about two years until the end of 2006, when the firm shut down. He was previously at Merrill Lynch & Co., within the bank’s health-care investment banking group, and before that at investment bank Donaldson Lufkin & Jenrette.

Sinclair received a masters of business administration from Stanford Graduate School of Business in 1999 and graduated with a bachelors degree in business economics from the University of California in 1994.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net
Report Spam   Logged


Pages: [1] 2 3 4   Go Up
  Print  
 
Jump to:  

Powered by EzPortal
Bookmark this site! | Upgrade This Forum
Free SMF Hosting - Create your own Forum

Powered by SMF | SMF © 2016, Simple Machines
Privacy Policy