shrewd

Learning To Be Shrewd

Before you, I had no regrets. Only lessons learned.
I realize I was so naive.
I’m too kind, too easy to attach.
Not a drop of shrewdness in my heart.

After you, I have one regret.
And a lesson that needs to be learned.
There are bridges that are meant to be burned.
Pities that should not be attended to.
Now the time I needed for myself was taken. My thoughts consumed and energy drained, body claimed, spirit drained, and I was a fool.
You are a bridge I should have burned.
My one regret is you.

Shrewd hedge funds profit in turbulent September


Bearish macro bets such as owning U.S. and European government bonds, as well as being short equities, commodities and the euro, have helped funds navigate a crisis that has seen fears of a global recession and a banking crisis grow.Brevan Howard’s $25 billion Master fund, one of the world’s biggest hedge funds, gained 1.5 percent last month to September 23, said two sources who had seen data on the fund’s performance. This takes profits this year to 12.3 percent.And GLG, part of Man Group (EMG.L), saw its $2 billion Atlas Macro fund, which is managed by Driss Ben-Brahim and Jamil Baz, gain an estimated 6 percent in September, said a person close to the company.In contrast, the average hedge fund lost 3 percent last month, according to Hedge Fund Research’s HFRX index, taking year-to-date losses to 8.4 percent. The third quarter was the worst for three years.Equity funds were hard hit, particularly those focusing on stocks’ fundamental value, with MSCI’s World index of stocks .MIWO00000PUS falling a further 8.8 percent during the month.A number of industry insiders have pointed to markets being preoccupied with economic worries, rather than company fundamentals.“This is not 2008, but perhaps one similarity with 2008 is that market’s focus is on macro, and no-one is really focusing on the micro,” said Frank Frecentese, global head of hedge fund investments at Citi Private Bank.EQUITY, CREDIT FUNDSGlobal macro funds – made famous by the likes of George Soros – have tended to be more bearish than equity managers and have benefited from falling bond yields in countries such as the United States, Germany and the UK.On Thursday the Bank of England announced a further 75 billion pound stimulus, pushing yields on longer-dated debt to record lows.Stenham Asset Management said its Trading fund, which invests in macro hedge funds, gained an estimated 0.8 percent in September, taking third-quarter gains to 3.4 percent.Meanwhile, a smattering of equity managers were able to profit, even as markets fell.Marshall Wace’s $1 billion Eureka fund, managed by co-founder Paul Marshall, gained 1.5 percent in September, taking gains this year to 5.8 percent, said a source familiar with the matter.And its Global Opportunities fund, which is run by Fehim Sever and which focuses on emerging markets, rose 6.5 percent last month, lifting this year’s profits to 23.8 percent.Among credit funds, CQS, one of Europe’s biggest hedge fund managers, saw its Credit Long-Short fund, which is managed by Simon Finch, gain 1.7 percent in September, taking year-to-date gains to 7.9 percent.This was helped by active trading of both long and short positions, according to a source familiar with the matter.And while GLG’s Emerging Markets fund has suffered this year, its Emerging Credit Opportunities portfolio gained 1 percent last month.


~ Slytherin: Luke Hemmings ~

“Slytherins tend to be ambitious, shrewd, cunning, strong leaders, and achievement-oriented. They also have highly developed senses of self-preservation. This means that Slytherins tend to hesitate before acting, so as to weigh all possible outcomes before deciding exactly what should be done. The qualities which Salazar valued in the students he chose included cleverness, resourcefulness, determination, and ‘a certain disregard for the rules’“.