Single Family Home Owners Are Suffering Because Of Idiots Like This Greenwich's
Financial Moron
Does It Again !!!
Meriwether hedge fund down 28 percent in 2008: report
Quote:
“We have sharply reduced the risk and balance sheet of the portfolio”
Story:
NEW YORK (Reuters) - The largest hedge fund run by John Meriwether has plunged 28 percent this year, forcing the co-founder of the defunct Long-Term Capital Management to scramble again to stem losses and keep investors from fleeing, the Wall Street Journal said on Thursday.
Losses for the Relative Value Opportunity leveraged bond fund accelerated this month, after the fund had dropped 9.19 percent from Jan 1 to Feb 28. The broader JWM Global Macro fund, also run by Meriwether's Greenwich, Connecticut firm JWM Partners LLC, was down 6 percent through February, the newspaper said.
Quoting from a March 18 shareholder letter, the newspaper said Meriwether told investors that losing positions have included mortgage securities backed by Fannie Mae and Freddie Mac , trades tied to municipal bonds, and "triple-A" rated commercial mortgage-backed securities.
The former Salomon Brothers executive is trying to assure investors that his firm will survive tough market conditions and preserve about $1.4 billion of assets, the newspaper said....
Losses for the Relative Value Opportunity leveraged bond fund accelerated this month, after the fund had dropped 9.19 percent from Jan 1 to Feb 28. The broader JWM Global Macro fund, also run by Meriwether's Greenwich, Connecticut firm JWM Partners LLC, was down 6 percent through February, the newspaper said.
Quoting from a March 18 shareholder letter, the newspaper said Meriwether told investors that losing positions have included mortgage securities backed by Fannie Mae
The former Salomon Brothers executive is trying to assure investors that his firm will survive tough market conditions and preserve about $1.4 billion of assets, the newspaper said....
Full Story: Earth Times
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