Call Clarium the fund that can’t stop losing money.The latest numbers show that Peter Thiel’s $323 million Clarium LP is down 23% through November, says a recent letter to investors obtained by Bloomberg.
Thiel’s recent losses are, unfortunately, nothing new for the investor, who’s been losing money ever since an incredible run (he was up 57.4%) turned sour in 2008 and he began a long streak of losing billions in investor withdrawals and tons of money in investment losses.
A few months ago, before QE2, Thiel predicted deflation, which explains a lot of what’s happened to his fund.
Just last month, Clarium was down 17%. And now, as if no matter what, it just cannot stop losing money, Clarium is down 23%.
Thiel seems to at least acknowledges his latest losses and understands what they mean for his employees. Thiel recently said that he would seed a new fund that will be run by Patrick Wolff, a world-class chess player, who is leaving Clarium.
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