It turns out that it’s not just John Paulson that’s having a pretty disastrous year.
Other big name hedge funders are also suffering, according to Reuters.
David Einhorn; Louis Bacon; Bill Ackman; and Paulson; they’re all on the list of hedge fund managers who usually make stellar returns for their clients, but who are down through June.
Those managers are “losing money for their investors’ money while underperforming the major U.S. stock market indexes,” Reuters reported.
As previously reported, Paulson’s flagship Advantage Fund is down about -20.9% YTD.
Einhorn’s Greenlight Capital is down 5%. Bacon’s Moore Global fund is down 5%. Ackman’s Pershing Square is down 2.27%.
“Even Dan Loeb, whose Third Point, has been one of the industry’s top performers, took a mighty blow in June because of a big bet on gold, said one of his investors… Loeb’s main fund fell 2.9 per cent in June, slimming the year’s gains to 6.3 per cent,” according to Reuters.