Those good people at Bloomberg write that hedge-fund manager Paul Sinclair is the latest casualty of Europe's sovereign-debt turmoil, almost six thousand miles away from the epicenter of the crisis. Sinclair, who is based in Los Angeles, is liquidating his $458 million health-care equities fund, Expo Capital Management LLC, after five years, as political decisions made on the other side of the globe have undermined his stock picks and spurred losses for a second year.
"I don't have an edge on Greek elections, the Spanish banking system, what the European Central Bank, the International Monetary Fund, the Chinese government, Angela Merkel, or the U.S. Federal Reserve will do," Sinclair said in a telephone interview yesterday.
Sinclair, 41, said that over the past year he's found it increasingly difficult to make money because of the macroeconomic environment, and that his investing career since 2004 has left him "physically and mentally exhausted." He said he plans to return money to investors by the end of the month, rather than hold cash and charge clients fees.
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