Goldman Sachs closing fund?

[LICandidate]

Rumors are about that Goldman Sachs will shutter its Global Alpha hedge fund which has dropped over 12% ytd.

Anyone else hearing this? Can anyone confirm or deny it?

 

[tobias]

They just reported on CNBC that this is false.

 

[LICandidate]

I saw that. Still interesting that these rumors are circulating. I read that they stemmed from traders saying that the fund was aggressively liquidating.

 

[ryguy904]

LICandidate Wrote:
-------------------------------------------------------
> I saw that. Still interesting that these rumors
> are circulating. I read that they stemmed from
> traders saying that the fund was aggressively
> liquidating.


You must be the same one shorting LEND, because Lone Star is closing. Gimme a break.

 

[DirtyZ]

Lots of rumors swirling about regarding Goldman as well as other quant-based hedge funds. Maybe it's time for a back-to-basics "fundamental" approach to analysis - where you actually have to know how to value a business rather than just writing fancy trading algorithms?

 

[theboxer]

Rumour has it that they make way too much money.

 

[LICandidate]

ryguy904 Wrote:
-------------------------------------------------------
>
> You must be the same one shorting LEND, because
> Lone Star is closing. Gimme a break.


First of all no. I haven't been shorting. But, you're being naive if rumors like this don't get your attention. there are some problems in the market. BNP today, quants having trouble...

You can ignore it if you want.

 

[HoldSideAnalyst]

I heard Caxton was liquidating and was going to get bought out by Buffett. Turned out to be complete hogwash. Just like this rumor.

 

[Big Nodge]

I heard that Caxton rumor as well, then turns out they were down 3% in July. Big whoop.

 

[MFE]

bloomberg article says Alpha fund has lost 16% YTD, 12% loss in last 2 weeks.

 

[LICandidate]

there was a wsj article on it this morning also.

http://online.wsj.com/article/SB118661841278192411.html

 

[HoldSideAnalyst]

Which confirms the loss, which was widely known, but denies the closing of the fund.

 

[MFE]

DJ says sources say GS closing $900mm NA Equity Opp fund but keeping Alpha fund $9B

 

[mcpass]

I just got a new report saying that several Quant Equity funds are dropping very, very sharply and investors want out.

Somehow I'm under the impression that the markets are heavily overreacting so I'm trying to pick stocks which will outperform when an upward correction follows.

If I'm wrong, I'll lose my bonus for 2007 ;-)