Balestra hurt by shorts, retains doomsday view
By Suzy Kenly Waite
Thu Oct 21, 2010
After several fantastic years, Jim Melcher’s Balestra Capital Partners has stumbled, and is down on the year for the first time since 2006.
Jim Melcher's bearish views have cost his firm this year, as
Balestra Capital Management's fund is down 4.74% through
September. Losses in the $1.5 billion Balestra Capital
Partners, a global macro strategy, came from a variety of
positions, namely shorts in equities, as well as puts on
equities, euro, sterling and the yen. The AR Macro Index,
meanwhile, is up 4.59% through September. "If the summer of
2010 ended with a whimper, a return to fall began with a bang,"
Matt Luckett, co-portfolio manager and partner wrote...
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