November not the new August after all
Dec 10th, 2007 | Filed under: Performance, Analytics & MetricsWell it happened again - big time. The widely quoted “HFRI” index of hedge funds smoked the less-quoted, but more timely investable version, the “HFRX”. Last week we wrote that the HFRX beat the HFRI regularly - but particularly when both indices were down on the month. Well, true to form, both indices were down in November, and the HFRI beat the HFRX by 100 basis points (1.4% vs. 2.4%). Kind of takes the air out of the “November is the new August” storyline. But there are always some great crash and burn stories to satisfy your sense of schadenfreude.
Here’s a brief history of the past week:
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