$11 a pack in Man'h, even Indians places. 1H Hedges.
Hey Yanks to be first 3D baseball game July TV.
Most hedge funds dodged big losses in first half
2:24p ET July 2, 2010 (MarketWatch)
SAN FRANCISCO (MarketWatch) -- The $2 trillion hedge fund industry avoided big losses in the first half of 2010 as many managers stayed defensive amid sovereign-debt concerns and worries about a double-dip recession.
A global index of managers compiled by Chicago-based Hedge Fund Research Inc. fell 0.94% in June, according to early estimates. That would leave the index down 1.2% in the first half.
The Standard & Poor's 500 Index slumped more than 5% last month, leaving it down 7.6% in the first half.
"We remained hedged," said Chris Jackson, who invests in hedge funds at SFG Asset Advisors in San Francisco.
The firm's fund of hedge funds probably generated a small gain in the first half, he noted.
"That's OK," Jackson said. "The idea is to not lose money -- then you have some dry powder to attack the second half of the year. Managers that have been defensive probably have cash to trade on the front foot for the rest of the year."
Equity hedge funds tracked by HFR lost 1.38% in June, leaving them down 3.42% in the first six months of this year. Global macro managers, who trade based on broad economic trends, lost 1.32% last month and were down 2.32% in the first half, HFR reported.
Event-driven hedge funds, which trade around events like acquisitions and reorganizations, lost 0.53% in June and 0.73% in the first half.
Some managers eked out gains in the first half of the year. Funds focused on distressed securities and convertible arbitrage returned 0.38% and 1.92%, respectively, in the first half, according to HFR estimates.
The main hedge fund run by Dan Och's Och-Ziff Capital Management lost 0.46% last month, leaving it up 1.39% in the first half of 2010.
Hedge fund manager David Einhorn generated gains of more than 2% in June for the reinsurer Greenlight Capital Re . The company's investment portfolio, which is run by Einhorn, was up 0.6% in the first half.
Einhorn gained 2.2% in June as markets slumped
12:35p ET July 2, 2010 (MarketWatch)
SAN FRANCISCO (MarketWatch) -- David Einhorn generated returns of more than 2% in June as equity markets slumped, according to the investment results of Greenlight Capital Re, a reinsurer that invests its premiums with the hedge fund manager.
Einhorn, who runs hedge fund firm Greenlight Capital, is also chairman of Greenlight Capital Re , which reinsures a variety of property and casualty risks.
While most reinsurers plough premiums into bonds and other credit-related securities, Greenlight Capital Re invests almost all its premiums with Einhorn, a leading hedge fund manager who specializes in long/short equity trading.
Einhorn gained 2.2% in June, leaving Greenlight Capital Re's portfolio up 0.6% in the first half of 2010, according to a disclosure on the company's Web site.
The Standard & Poor's 500 Index slumped more than 5% last month, leaving it down 7.6% in the first half.
Greenlight Capital Re said that its top-five long positions were Arkema , CIT Group Inc. , gold, Pfizer Inc. , and Vodafone Group PLC at the end of June.
Greenlight Capital Re shares slipped 14 cents to $24.88 on Friday. The stock is up 5.5% so far this year.
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