Hedge Funds Performance

Biggs' Traxis turns around


Barton Biggs' global macro shop, Traxis Partners, can be thankful for the stock market rally. The firm, which suffered a nearly 30% drop last year, has come roaring back, gaining about 15% for the year through May 21.

Traxis sustained a body blow in 2008 because it was long equities going into the third quarter when the markets tanked, causing the firm to suffer the bulk of its losses. It continued to take a beating in January and February but gained 7.25% in March and 12.24% in April (performance is for the Traxis Fund share class that charges