31%

Ty Webb: Remember Danny - Two wrongs don't make a right but three rights make a left.

31% is hardly unbelievable. I'm believing it just fine. now it they lost a gajillion-bajillion, i'd have trouble swallowing that

that's why the headline doesn't say "Tykhe Goes On Record To Say It's Lost Unbelievable % Of Money," dumb ass

Look at that dog shit stationary, I could project the fund's performance just from that.

The month was only 9 days old at that point. 31% down in 7 trading days, that's pretty bad

the guys I know at Tykhe are all good guys and gentlemen (at least when dealing wtih me) sorry to hear things aren't going well for them.

If i'd paid 2/20 for that, they'd have to get a restraining order on my ass.....

that is the most ghetto ass looking logo, typeface, stationary, etc I've ever seen, f'in amateurs, agreed with Random Banker...anyone who can't hire an intern capable of making a half decent form letter is destined to get asssf&cked.

estimated NAV? Between 17 and 31% in losses? Invest in some tech and calculate before you send out a letter like this. I realize most of these shops don't calc daily, but hell at least weekly.

inIT4the$, every investor will have a different NAV. That's how fund accounting works.

I like the new ads for the MarquisJet card, wouldn't be a terrible way to blow part of the bonus

Note to NetJets ad guy (upper left): $100K / yr analysts are not your target market. They 1) have no time for flying currently 2) will likely soon be out of work 3) Only make $3.79 / hr after expenses of living in NY City.

Respectfully,
David Ogilvy

also 123k 25 hr netjet program is the lowest you can buy.

so that 4 hr one way to LA from CHI becomes a 8hr round trip

1 trip only costs 41k

what a bargain.

Renaissance! -8.7% in August.

I think the idea is that we will relentlessly deride so many wealthy individuals that one of them will eventually visit this site and then buy a jet or maybe some lemonade.

anyone have a sense of how bridgewater is doing this year?

bridgewater doesn't do well any year

Where are all the clients' jets?

actually, net jets only charges you for the time you are on the plane, with a 6 minute landing/taking off time added as well, 12 minutes if you're in a G4 or G550, or the larger Falcon planes...

And renaissance is down 8.7% in august?? how many down months do they average per year? less than 1? is it still all employee money? I'd be pissed if I was paying 5 and 44 and they lost almost 10% of my money in less than 10 days.

They're over by the managers yachts

net jets

tell me how long a flight takes from LA to chi?

From "Rockets' red glare" down to "Brother, can you spare..."

Your positions are correct, my quant bretheren! The spreds will converge. If you're not overleveraged you'll weather the storm. Quants rule!

The problem is you can't make enough money unless you're overlevered Oh, and every numb-nuts on the street is cloning your model, but none of the blackboxes make allowances for that!

D'oh!

RonPaul!!! Wins every internet poll,

On Romney - betting that winning Iowa and New Hampshire unopposed is worth more than leading every poll for a year or more. People keep hoping it's not true, but Rudy really is leading. Y'all ain't seen nasty until we get Rudy vs Hillary. I'll put down money that Bill and Judi end up running off together after one of the debates!

I remember hearing somewhere these arrogant sob's were thinking of raising their fees to 3 & 30. Anyone else hear that?

To address the confusion regarding the dispersion of return estimates - Tykhe has 4 major strategies, 2 of them stat arb, and different share classes reflect different mixes between those strategies.

Oh, and FYI - if they're 1x levered now, that means that they traded out of about 80% of their positions as they were running something like 500% gross exposure before...

On a side note - how come no one is saying ANYTHING at all about the quant long-only guys (the BGI's, the Rosenbergs and so on)?? They have way more money than all the hedgies combined, and they are sucking even harder. Check out GCSIX - through JUNE, they were lagging the Russell 2000 by almost 500 bps, and they are behind the index by 9% just month-to-date. Enhanced indexing my ass. Can someone leave the Simonses and the Tykhes alone and go slap BGI and GSAM's long-only guys in the face instead???

"Can someone leave the Simonses and the Tykhes alone and go slap BGI and GSAM's long-only guys in the face instead???"

MeanReversion, Tykhe is over. 30% drawdown in 9 days is a catastrophic failure. They should just take their marbles and go home. Even if the Tykhe funds don't immediately wind down, I bet that it will take them so long to get back to their high water mark that most of the talent will have already left ... no bonus = no talent.

Tykhe will be okay. They're a small tightly knit shop that has incredible revenue per head. Even on a really bad year they can probably afford to pay more than most people. The managers are smart cookies and they know what they're doing. The only reason they're even in the press is because they publish daily NAVs that one of their investors leaked out. There are probably other funds that are in far worse shape that have not disclosed their losses.

You also have to remember the -31% is probably on 4-to-1 leverage. Their investors know that and when compared to the guys that use no leverage at all, they didn't do too badly.

Dude you are on total crack. I'm in stat arb so I have a clue. -31% is not acceptable, and Tykhe is a respectable although not top tier place. I would be shocked if they are not totally screwed. How are they going to pay bonuses this year???

On the other hand, they probably made some back on Friday and perhaps more in the coming week. Yet, with the radical de-levering, it will be impossible to get positive on the year.

"I'm in stat arb so I have a clue"

Ahh...yes, you're must work for one of those places that lost 25% on 2-to-1 leverage.

The comments are hard to read on this site- can't you make the font size larger?

Hedge funds should be taxed out of existence.

GO Barack Obama!!