Clarium Capital LP Posts Good Year, in January

Picking Peter Thiel over John Paulson for our 2007 Man of the Year was a tough call, but Peter is making us look good:

Clarium LP, a $4 billion hedge fund run by PayPal co-founder Peter Thiel, surged 24.4% in January as bets against leveraged U.S. companies and the dollar paid off, according to an update that the firm sent to investors recently.

Clarium’s positions in U.S. equities contributed most to the gains, while bets that overseas currencies would appreciate against the U.S. dollar also boosted returns, the firm said in the update, a copy of which was obtained by MarketWatch. MarketWatch

January was a tough month for many hedge funds who prospered in 2007 as a nasty reversal in momentum caused pain for the equity-oriented strategies that led the pack in 2007.

Hedge funds suffered their worst month in almost eight years in January as stock markets around the world fell on concern about a possible recession in the U.S.

Maverick Capital, North Sound Capital and global stock picking specialist Sloane Robinson were among firms nursing losses, according to investors and a database of managers maintained by HSBC’s private banking unit.

Clarium exited many short positions at the end of January, which was probably well timed. Last week was up big, this week we gave much of it back, and Clarium’s numbers are probably holding up reasonably well a week in to the month.

Move over George Soros, there is new a new King of Global Macro strategies.

Hey Peter, are you hiring? 

Clarium surges 24% in January
MarketWatch

Industry has worst month since dot-com bust
MarketWatch
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