Clarium maintains bearishness, leverage in the face of continued losses
By Suzy Kenly Waite
Tue Apr 20, 2010
Despite two years of losses, Thiel remain uncowed by a rising market.
After a devastatingly ill-timed bet on equities 2008 and crushed hopes that his bearish stance would be vindicated in 2009, Peter Thiel is sticking it out. As a percentage of its net asset value, Thiel’s macro hedge fund firm, Clarium Capital Management, was 48.9% short equities in March, according to a portfolio update sent to investors.
That short position is only 16.3% as a percentage of Clarium’s levered portfolio, a reflection of the leverage — 3.3 to 1 — that the firm was employing as of March. Clarium fell 3.9% in...
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