Tiger cubs howl and Third Point loses some edge.
May was a disaster for hedge funds, with many of the industry’s biggest funds performing worse than the AR indices they are measured against. And the losses weren’t limited to any one strategy.
Some of the top hedge fund firms that were hit with losses in May include Harbinger Capital Partners, King Street Capital Management, Maverick Capital, Moore Capital Management, Paulson & Co., Shumway Capital Partners, Third Point Management, Tiger Global Management, Tudor Investment Corp., and York Capital Management.
The May market turmoil, including the so-called “Flash Crash” of May 6, ongoing fears of instability in the European markets, and