Peter Thiel's Hedge Fund Crushed (Again)

It’s a good thing Facebook is doing so well, because Peter’s hedge fund isn’t.

Alistair Barr, Marketwatch: Clarium LP’s tough 2009 got tougher in September.

The hedge fund, run by PayPal co-founder Peter Thiel, lost 8% in the first 14 trading days of this month, according to an update Clarium sent to investors.

The hedge fund also cut leverage from 4.2 to 1 down to 1.4 to 1 between Sept. 11 and Sept. 19, Clarium noted in the update, a copy of which was obtained by MarketWatch.

Clarium had already had a difficult 2009. Through Sept. 18 the fund is down 15.6% this year. Assets under management slumped to below $2 billion at the end of August from more than $7 billion in the middle of 2008, before the financial crisis deepened.

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