A resurgent NASDAQ, up nearly 4.4% for the month, led to big gains for most technology-oriented hedge funds in August. In fact, a banner year may be in the works for some with the NASDAQ benchmark up 35.6% through the end of August.
But things only looked good for tech fund managers with a big net long, which is not the case at Andor. Although Dan Benton's group has steadily been shifting its exposure across all its funds from aggressively net short to a more balanced position, it was still caught out by the August momentum. Andor Technology