Balestra’s pessimism pays off

By Jan Alexander

Thu Aug 11, 2011

Returns turn positive in chaotic trading days of August

The doomsday outlook of Jim Melcher, founder and chief investment officer of Balestra Capital Partners, is finally paying off, with Balestra joining the ranks of hedge funds who are making money in today’s turbulent markets.

After two-and-a-half lackluster years, the $1.6 billion global macro fund has come back strong, posting a 6.5% return in the first 10 days of August. Year-to-date, the fund is up 1.06%. Balestra’s latest winning streak began in July, when it gained 2.74% net for the month after falling by 5.10% from...

ISSN: 2151-1845 / CDC10004H


The full contents of this article are available to Absolute Return subscribers and trialists only.

To continue reading please, take a free trial, subscribe or log in.


Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now

Popular Searches on HFI