Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Peak Oil and Hedgie Blowup- NO PROBLEMO

Gaag,Blow,BS, Arrg, Dr.GreenieSpam - DROP IT !

Read this....
http://www.otcnet.org/2005/presentations/pdf/OTC05_TL_Simmons.pdf

Bailey Coates Fund to Shut After Falling 20% ray_heritage
NEW 6/20/2005 9:15:01 AM
link

(excerpt)

Bailey Coates Fund to Shut After Falling 20% in 2005 (Update1)

June 20 (Bloomberg) -- The Bailey Coates Cromwell Fund, a London-based hedge fund that had $1.3 billion of assets at its peak in 2004, will shut down after slumping 20 percent this year, becoming at least the second fund in a week to close because of bad performance.

It's 'in the interests of partners to be given the opportunity to voluntarily withdraw their interests before the fund is placed in formal liquidation,' Bailey Coates Asset Management LLP said in a June 17 letter to investors. Investors, known as partners, will get most of their remaining money in July, the letter said.

Bailey Coates was started two years ago by Jonathan Bailey, 36, and Stephen Coates, 33, who worked together at Perry Capital LLP before starting their own firm. Bailey and Coates said as recently as last month that they planned to keep 'the fund going' after assets fell to about $635 million.



RE: Aman Capital: "We Have Not Shut Down Yet" ray_heritage
NEW 6/20/2005 9:21:03 AM
Singapore's Aman Capital: "We Have Not Shut Down Yet"

SINGAPORE (Dow Jones)--Singapore's hedge fund, Aman Capital Management, said Monday it has still not closed operations, refuting an earlier report in the Financial Times that the company was closing down.

"We have not shut down yet" Mayur Ghelani, director at Aman Capital, told Dow Jones Newswires in a clearer statement about the company's current status.

Earlier Monday Ghelani didn't comment on the FT report, but said the company has been fulfilling since April all commitments to its shareholders of a US$240 million hedge fund.

In May, local media reports said Aman Capital had lost tens of millions of dollars through trading derivatives.

RE: Bailey Coates Fund looks like 50% loss Yogibear101
NEW 6/20/2005 9:46:00 AM
...from $1.3B to $635M by a couple wet behind the ears wannabe fund managers. Time to check the books eh?

RE: Bailey Coates Fund looks like 50% loss Bradleto
NEW 6/20/2005 10:25:03 AM
If they charge the typical 1% of assets under management plus a percentage of profits (often 20%), at 1.3 billion dollars, they earn $13,000,000 a year irrespective of the fund's performance. Well, if the fund loses value, their fees go down too proportionally. For obvious reasons, under most circumstances, the typical operators will run these things until the great money is no longer available to them via the 1% fees. It's like tipping the proverbial cow to get the last drop of milk out of the hind teat. BR