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
ISSN: 2151-1845 / CDC10004H
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