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...
ISSN: 2151-1845 / CDC10004H
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