The May selloff in stocks couldn't have come at a worse time for hedge fund manager Victor Niederhoffer, who's been working hard to put his infamous 1990s boom-to-bust story behind him.
In May, Niederhoffer's four-year-old Matador Fund posted one of its worst months ever, industry sources say. The fund, which specializes in trading stock futures and stock index futures, lost nearly 29% as the U.S. markets began to unravel, reducing the value of Matador's holdings to about $247 million.
As of the end of May, the so-called commodity trading adviser fund, which was once up 31% for the year, was 6% in the red since the end of December. Results for June, which is shaping up as another harsh month for investors, could not be determined.
6/17/2006
Market down 3% Niederhoffer down 30%
Just last month Victor Niederhoffer was boasting that he was the greatest speculator in the history of speculation. Hubris of that kind was swiftly punished by the market.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment