It’s All Good at Atticus Capital
Thursday, September 04, 2008 - 4:58 pm
Is Atticus about to close up shop?
No way, Jose:
"As a firm we have had less than 10% of our capital put in for redemptions for September 30," says Mr. Barakett. "There are no funds that we are even considering closing down. Our flagship fund, Atticus Global, has had redemptions of about 3% of capital." WSJ
Of course, there is a silver lining in the recent trading activity...for Lehman Brothers:
"Hedge funds that picked on Lehman Brothers and Bear Stearns now are picking on each other," said the head of prime brokerage at a major investment bank
Incestuous relationships in Hedgistan, along with groupthink and the rising popularity of piggybacking led to some pretty crowded trades...Mastercard (MA-NYSE) being front and center. Forget about fundamentals, this market is about mere survival, and the bigger they are the harder they fall.
Do you believe Tim? Just sayin'...
Big Hedge Fund Atticus Denies Rumors It Is Liquidating
WSJ
Comments:
Next entry: Bonus Season: Politics Over Merit
Previous entry: How Not To Layoff People
