Getting tons of news today so will get right to the point:
"Clarium Capital Management LLC, the $7 billion hedge-fund firm founded by Peter Thiel, fell about 13 percent in August, its biggest monthly loss, as it bet against the U.S. dollar."
"Before August, Clarium's biggest monthly loss was in March 2004 when it fell 11.4 percent, according to an investor letter."
You'll recall I covered Clarium in my hedge fund 13F analysis series here. And, this isn't the first tough month for Clarium. As I posted here, Clarium also was down 6.8% for the month of July. So, year to date, a rough estimate would now put them at +32% year to date. I'm also hearing they're almost completely out of commodities now. So, yet another macro fund gets its ass handed to them, what else is new? Will be interesting to see if Clarium shifts from commodities to equities, as the equity portion of their portfolio is typically minimal at best (and by minimal, I mean ridiculously tiny: 1% or less of total assets under management).