Roy Niederhoffer has been a hedge fund manager for almost 20
years — but the nerdy investor is probably just as well known in Manhattan
social circles for his love of music, according to the NY Post. A patron of the arts and an accomplished
musician, the 46-year-old investor is scheduled to play violin next Saturday
with the Park Avenue Chamber Symphony.
He might want to buff up his musical resumé — the hedge fund
he is running hasn’t made a dime since 2008 when it had a spectacular 51
percent gain. Since then, roughly $1.1 billion has been lost to poor
investments. The firm now has only $484
million, according to a recent report to investors.
“It seems so dire,”
sniffed one institutional hedge fund investor who knows the fund. “It’s hard to
say it’s just not broken at this point.”
It’s hard to argue the point. While many other hedge funds are hurting this
year, Niederhoffer’s four-year losing streak is apparently unmatched by other
funds of its size and strategy....
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