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.
Read more:
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/06/14/bloomberg_articlesM5L0R96S972801-M5L0R.DTL#ixzz1xmQK45YY
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