Investor Letters ~ market folly

Wednesday, November 5, 2008

Investor Letters

Here are some more recent hedge fund investor letters. Do note that these are all .pdf files.

Maverick Capital (Lee Ainslie) - Portfolio holdings detailed here.

Colony Capital

Oaktree Capital Management

Hayman Advisors LP (Kyle Bass)

Balyasny Asset Management LP

Baupost Group (Seth Klarman)

Perry Capital

And, taken from Bloomberg, we're seeing that a few hedge funds that have typically been closed have since re-opened those funds to add capital,

"Steven Cohen, David Einhorn, Paul Singer, and Alan Howard are doing what most hedge-fund managers can't these days -- raising money from investors.

Singer's Elliott Management Corp. added $3 billion in the third quarter and Howard's Brevan Howard Asset Management LLP garnered new cash as they posted investment gains in a year when the average fund has lost 20 percent, people with knowledge of matter said. Cohen's SAC Capital Advisors LLC and Einhorn's Greenlight Capital Inc. have allowed investors into funds that had been closed since 2005, with Einhorn seeking several hundred million dollars this month."


Both SAC and Greenlight have suffered losses this year, as we detailed in our hedge fund performance update.


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