AQR Rumor Sorted

Posted by John Carney, Nov 08, 2007, 10:08am

Remember how last night we totally told you something was up at AQR? Well, this morning Roddy Boyd and Zach Kouwe of the New York Post have a bit more color.

AQR Capital Management, the giant Greenwich-based hedge fund, has been forced to shelve its planned initial public offering after a dismal performance caused several large investors to pull their cash from the firm's $38 billion fund, The Post has learned.

See! We told you. Next time, listen to us. Also, we're a bit worried about you. You may be drinking too much.


Clipped Hedge Fund AQR Pulls Offering [New York Post]

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Posted in: Hedge Funds

Comments

Posted by The Hedge Fund Apologist, Nov 08, 2007 10:27AM

Come on now! These are really really bright people who just got on the wrong side of a crowded trade. It wasn't their model...or their "strategy"...it was the fact that these really, really, really smart people didn't "think" that everyone was apparently as "smart" as they are and doing the same tradiliscious trade. Even thought they discuss the risk of "crowded" trades at the Goldman Sachs training course for newhires, how can anyone as smart as GS alumni expect anyone else to have the same trading strategy? It makes no sense.

Posted by , Nov 08, 2007 10:31AM

The Quants are buying like hell this a.m.

Posted by HAM'05, Nov 08, 2007 10:31AM

these guys stopped trading with ML after some soft dollar mix up a few months ago - serves em right for effing with stan the man

Posted by WDE, Nov 08, 2007 10:36AM

Oh yeah...rumor has it there's this really hot security called a CDO out there that the quants love too...

Posted by The Quant Apologist, Nov 08, 2007 10:41AM

We are telling anyone who'll listen that we were correct in our assumptions but that the models were in error. Seems to be working, too.

Posted by Larry Hilibrand, Nov 08, 2007 10:49AM

The models were and are right; the models are always right, and backtesting will prove it. It's just the market that have it wrong.

Posted by why, Nov 08, 2007 10:59AM

congress-woman:

"(first asks some innane question)...when we bailed out long term capital markets..."

Posted by Well, Who Did and How'd they Do It?, Nov 08, 2007 11:03AM

LTCM was bailed out at the urging of your Fed. Don't you read?

Posted by , Nov 08, 2007 11:08AM

oh, i remember her from yesterday...very pretty. thought she was an indian chick

Posted by Newbie, Nov 08, 2007 11:18AM

When you say models do you mean like Gisele Bundchen or what?

Posted by , Nov 08, 2007 11:22AM

I'd definitely backtest Gisele

Posted by homeownership is not a right, Nov 08, 2007 11:22AM

there are plenty of apartments available around the country, and wouldn't it be better to encourage idiot americans to funnel more discretionary dollars into the economy

Posted by Bugs Meany, Nov 08, 2007 11:45AM

Why was E. Rose looking like a clown whore in that vid? Looked better today.

Posted by Bugs Meany, Nov 08, 2007 11:48AM

Why was E. Rose looking like a clown whore in that vid? Looked better today.

Posted by Bugs Meany, Nov 08, 2007 12:01PM

Why was E. Rose looking like a clown whore in that vid? Looked better today.

Posted by not a quant, Nov 08, 2007 2:47PM

Can one of you quants quickly calculate the odds have having 2 100-year events in 3 months?

Posted by , Nov 08, 2007 3:06PM

There is definitely a Quant event going on today.

What's causing it?

Posted by Quantster, Nov 08, 2007 3:39PM

Past 2 months have been great for my model, returned 6% last month and this month +4%. Love the markets, take that credit beaches!

Posted by Quantster, Nov 08, 2007 3:42PM

Past 2 months have been great for my model, returned 6% last month and this month +4%. Love the markets, take that credit beaches!

Posted by Denny Greenspan, Nov 08, 2007 5:02PM

The modeals ARE what we THOUGHT THEY WERE! And we letemoffthehook!

Posted by Denny Greenspan, Nov 08, 2007 5:02PM

The models ARE what we THOUGHT THEY WERE! And we letemoffthehook!

Posted by Eric JM, Nov 08, 2007 10:03PM

Since when, honestly, is a -1% month such a bad thing? hedge funds should be judged on a 12 month rolling basis. Most of the best funds have 10-15% drawdowns every so often... really not a problem as long as they can perform in the longer term!

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