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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (73472)	4/22/2011 7:08:17 PM
From: TobagoJack	Read Replies (2) \| Respond to of 217588

just in in-tray Sent: Sat, April 23, 2011 6:46:31 AM Subject: covepoint Bloomberg interview on covepoint bloomberg.com my friend’s personal background on covepoint: Covepoint runs just under a billion in two funds, an emerging markets macro fund (most of the assets) and a fundamental currency fund. The firm is run by Melissa Ko, who formerly ran prop books for Bear Stearns and Deutsche Bank and who was also a partner in a small macro fund seeded by Soros. I've followed the fund for a couple of years, but I'd never been in their office until two weeks ago. Returns have been large (20%+ annualized since 2005), but also very volatile (stdev close to 30%ish). Their currency fund has far lower returns (though still good), with far less volatility. They run entirely discretionary and seem to be very fundamental in their approach. Karthik, the guy I met with and the author of the paper, is educated as a historian and sounded more like a historian than a portfolio manager in his responses to many of my questions. The third PM is a quant. I think they had risk on in 25 to 30 countries, mostly FX, but some fixed-income, equities and gold. I'm likely to spend some time getting to know them better, but this meeting was really just an intro.