Balestra’s pessimism pays off
By Jan Alexander
Thu Aug 11, 2011
Returns turn positive in chaotic trading days of August
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%
TAKE A FREE TRIAL
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.