hese
minimal gains make 2015 the worst year for finding returns since 1937, when the
cash-like 3-month Treasury bill beat out other major asset classes with a
return of 0.3 percent.
Larry McDonald, head of US macro strategy at Societe Generale,
said the all-encompassing lag in performance is one reason why major money
managers have done so badly this year. 2015 has been particularly troublesome
for hedge funds, the average of which is down about 4 percent this year
according to Hedge Fund Research.
"It's been an absolute meat grinder of a year,"
McDonald said. "Hall-of-fame legends, [Warren] Buffett, David Einhorn,
Carlos Slim, those are my favorite investors of all time and they all had bad
years."
Famed investor Warren Buffett is seeing his worst year since
2008, with Berkshire Hathaway shares down more than 11 percent year to date.
Bill Ackman of Pershing Square Capital sent a letter to investors in December
that said 2015 may be the fund's worst year since it was founded in 2004.
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