Everyone on Wall Street is talking about a small, secretive hedge fund that is posting crazy returns.
Simone Foxman and Margaret Newkirk over at Bloomberg published a great story this morning on Arjun LP, a fund run by Joseph A. Meyer.
The fund has posted annual returns of 13%, 24% and 91% since 2013, according to the story. Meyer, the founder, has guaranteed investors they will never lose money.
The catch: investors have to hand over their money for ten years and they get little information about the strategy. Meyer only says that he employs a computerised system and invests most of his clients’ money in Treasury bonds.
Finance Twitter can’t stop talking about the story. Here is a sampling.
— Downtown Josh Brown (@ReformedBroker) July 26, 2016
— Zeke Faux (@ZekeFaux) July 26, 2016
There’s enough questions that Georgia securities regulator is looking into the matter, Bloomberg reports. Meyer’s lawyer responded that this is just over a misunderstanding.