Clarium LP Drops 5.4% in November, Down 8.1% YTD

Clarium Capital Management is one of the best houses in a lousy land called Hedgistan, and while Peter Thiel can continue to put bread on the table, you can get a little lean while charging 0/25 in the middle of a giant global shitshow.

And while Peter is no doubt racking that considerable brain of his, he is 0 - fer on the back nine in 2008, losing money five months a row. He is in a foot race with Paul Tudor Jones' BVI fund year-to-date, and hanging tough in the Global Macro sweepstakes. Unlike Tudor Jones, he has not yet gated investors, preventing them from redeeming funds.

Perhaps the money is in some way locked up; I too tired to think it through, but AUM are down to $3.2 billion as we approach the homestretch. Clarium is once again essentially out of equities, but is still levered up on a fixed-income bet that no doubt has provided a thrill a minute given the recent moves in the bond market.

Peter is hardly flirting with disaster, or Erin Callan for the matter - he added Citigroup to his stable of prime brokers, and now Goldman and Credit Suisse will have to raise their game to keep my favorite Big Thinker happy.

Clarium got a lot right in the first half of the year, but should have spent the second at the beach. It has been brutal, but they have survived the worst of it. Thiel, however, probably won’t repeat as my Man of the Year. While Clarium’s 322% gain since inception (over six years ago) is stellar, John Paulson is a strong contender for the crown this year. 

But I am grateful for the contributions Peter has made, including, in part, funding Big Think.

Great stuff. And since I don’t have money with John Paulson, all I can say to him is What have you done for me lately?

I am sure John would agree with Peter in the video below, however.

God Damn Bankers!

Oct 2008

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Clarium is a broadly opportunistic investment fund that pursues absolute returns across a global macro spectrum. The Fund invests mainly in currency, commodity, debt and equity instruments.
Clarium believes that high absolute returns with moderate leverage and risk can be achieved by understanding and correctly trading the systemic, correlated distortions present in most global macro
markets. Clarium believes that these distortions result from the collapse of various assets bubbles, amplified by pervasive central bank and government manipulation of the bond and currency
markets in an attempt to mitigate the damage created by bubble collapses. Clarium exploits these distortions by taking directional positions in the major liquid currency, commodity, bond, and
equity markets.
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Peter is always looking for “distortions”, no doubt his current bond market bet is a bet against that very thing.

Previously

Big Think: Peter Thiel Video Festivus
1440 Wall Street

2007 Man of the Year: Peter Thiel
1440 Wall Street

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The content contained represent the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.

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