Can you beat 50% per month? Message Board

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Strategies & Market Trends : Can you beat 50% per month?

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To: Smiling Bob who wrote (13908)	5/9/2008 9:22:37 AM
From: Smiling Bob	Read Replies (1) of 19257

SHLD- no surprise here except the fact that it wasn't much higher Ed Lampert fund sinks 27% More bad news for hedge fund manager Ed Lampert. His ESL Investments was down 27% last year, Bloomberg reports, citing investors, and declined an additional 1.3% in the first quarter of this year. Lampert’s fund has been hit hard by his big bet on Sears Holdings (SHLD), the struggling retailer whose shares are off 48% over the past year. Lampert also hurt his own cause last year by making an ill-timed bet on Citi (C) just before the collapse of the mortgage market last summer. But Bloomberg notes that Lampert is far from alone in feeling the pain of hefty bets gone wrong: Other managers of concentrated hedge funds - ones that plow lots of money into a limited number of stocks - are getting hit harder, with former UBS (UBS) trader Jon Wood’s SRM Global fund down 70% through March 31. SRM’s big misses include troubled mortgage lenders Northern Rock of the United Kingdom and Countrywide (CFC).

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