current position：Home>The loss of $183 million a day this year is one of the worst losses in hedge fund history, and the famous Tiger Fund has fallen?
The loss of $183 million a day this year is one of the worst losses in hedge fund history, and the famous Tiger Fund has fallen?
To ensure that hedge fund managers do not just earn high management fees in the bull market , Bear market , Most hedge funds have HWM（ High water mark clause ）, The fund must exceed this level to generate performance fees . Like a former hedge fund manager Mike Novogratz stay Twitter As pointed out on the , Now this may be difficult for tiger funds , Need to earn 79% To return to HWM.
Tiger Global Fund （Tiger Global Management） The performance problem is becoming more and more serious , In the first four months of this year , The company lost at least 150 Billion dollars .
These losses also made the founder of tiger Global Fund Chase Coleman Their popularity has fallen sharply .2001 After the company was founded in ,Coleman Has become one of the world's most famous growth investors .
According to a person familiar with the matter , This year, 4 month , Tiger Global Fund's hedge fund lost money 15.2%, Make it 2022 Years ago 4 The last month's loss reached 43.7%. This year's loss plus 2021 year 7% A pullback means , Tiger Global Fund is 2020 Acquired annually 48% The benefits of have been completely erased .
meanwhile , The person familiar with the matter said , Tiger Global's long fund suffered a more serious blow , This year, 4 Monthly deficit 24.9%, To 2022 In fall 51.7%.
01 The loss per hour is about 2800 Thousands of dollars
By 2021 end of the year , The two funds managed by the company total about 350 $billion in assets , So in 2022 Tiger Global Fund may suffer at least 150 A nominal loss of $billion .
in consideration of 1 Month to 4 The moon has 82 A trading day , This means that after the market opens this year , Tiger Global Fund loses about per day 1.83 Billion dollars , That is, the U.S. stock market opened at a loss every hour 2810 Thousands of dollars ......
Tiger Global Fund wrote in an investor letter ：
“ Our mutual fund 2022 The start of the year was very disappointing , Given the macroeconomic situation , Poor market performance , But we don't believe in excuses , So I won't make any excuses .
We will continue to manage our portfolio as we did in the first quarter . We have confidence in our team and Portfolio , We will look back on this in the long journey , And benefit from the continuous process improvement .”
02 How will the tiger deal with ？
Even if tiger Global Fund is still confident in it , But the reality is , Due to the operation mode of hedge funds , Such losses are hard to recover .
as everyone knows , In addition to the annual management fee, hedge funds , And a huge performance fee , It is performance fees that have helped some hedge funds become the richest people on the planet .
To ensure that hedge fund managers do not just earn high management fees in the bull market , Bear market , Most hedge funds have HWM（ High water mark clause ）, The fund must exceed this level to generate performance fees .
Like a former hedge fund manager Mike Novogratz stay Twitter As pointed out on the , Now this may be difficult for tiger funds , Need to earn 79% To return to HWM.
So here comes the question , When you can't get a huge performance fee , Retaining top talent will become much more difficult . They may be on their own or join competitors , Instead of struggling for years , Return to HWM.
This is also Melvin capital （Melvin Capital） Of Gabe Plotkin Try to solve the problem . According to the financial times , He said last month , last year GameStop The incident still made the company lose heavily , He put investors “ Drive out ” Previous hedge funds , Then let them invest in new funds , This will allow the company to restart charging performance fees .
For the Tiger Fund , Growth technology stocks with heavy bets need to recover as soon as possible , Otherwise, the situation will deteriorate rapidly . The problem is , Even some top technical experts believe that , Things may get worse before they get better .
Well known investors Bill Gurley stay Twitter In the said ： A whole generation of American entrepreneurs and technology investors have been bathed in the valuation of the bull market in technology stocks ,“ Never experienced ” The bear market will be painful for many people 、 Surprise and uneasiness .
Amazon founder Bezos responded ： Most people have extremely underestimated how great this bull market has been in the past . When the market starts classes , The lesson is painful .
This article does not constitute personal investment advice , Nor does it take into account the special investment objectives of individual users 、 Financial condition or need . Users should consider any comments in this article 、 Is the opinion or conclusion consistent with its specific situation . Market risk , Invest carefully , Please judge and make decisions independently .
This article is from WeChat official account. “ Wall street news ”（ID:wallstreetcn）, author ： Ying Yiru ,36 Krypton authorized release .
author[36kr],Please bring the original link to reprint, thank you.
The sidebar is recommended
- The rare apple-1 computer was auctioned: it was equipped with jobs's handwritten serial number and cost more than $250000
- WSTS: in 2021, global chip design IP sales increased by 19.4% year-on-year to US $5.45 billion
- Tencent's application for multiple QQ yuan universe trademarks was rejected
- Researchers share a rare image of "high fin arowana"
- Middle aged men drinking Maotai began to buy blind boxes
- Musk set three fires on Twitter's "cigarette butt"
- Recruitment of agents, hengchi 5 offline, can Hengda turn over?
- With more downloads than tiktok and sheen, why is this social app so popular?
- 3 million Bentley new cars have been repaired in 17 places? The owner has been driving for 5 years without knowing it. 4S store: can't you give you a foot pad?
- Millet's Indian crisis
guess what you like
Professor Yue Hua: only the elderly get osteoporosis? Young people, get out of the misunderstanding!
Zhangboli: Integrated Traditional Chinese and Western medicine is a major feature of the prevention and control of the COVID-19
I've been transferred and feel good!
Onions are edible heart stents? Cancer prevention and hypoglycemic! Purple skin and white skin are very different!
What's the difference between stone pot and ordinary non stick pot?
32 years, 32 pictures, review the cosmic beauty photographed by Hubble telescope!
Teaching case of "space seed" planting activity in labor and technology education "
The guaranteed 618, 2K price performance price ratio magic iqoo neo6 se is now fully pre sold
Who is behind the sale of children's height anxiety? Who's the "money printer" again?
The Shaanxi couple are going to ring the bell for the IPO
- Which company specializes in making Tiktok short video of sports
- Which is the major of government affairs Beijing Tiktok short video shooting and production company
- Which major is Wenzhou Tiktok short video operation company in the education industry
- EDA software monopolized by foreign capital has mastered the lifeblood of domestic chips, and Chinese enterprises have broken out of the siege
- Shi Jin: the secret of writing killer titles
- Not just off screen cameras! ZTE axon 40 ultra will bring five unique images in the industry
- IPhone 14 family photo exposure: no mini version, Pro version is more fragrant
- Oppo reno8 appeared on the sub website: the world's first Qualcomm snapdragon 7 GEN1
- Self salvation of traditional automobile enterprises
- Maserati (China) Trading Co., Ltd. recalled some imported MC20 vehicles
- Hyundai sold 308000 cars worldwide in April, and some markets improved, but the impact of chip shortage is still on
- The welfare of the disappeared Internet big factory: the monthly salary evaporates thousands of yuan and moves from small suites to shared houses
- Investors Miss Zhou Yahui
- "Subway begging" is actually new product marketing. How many volumes does the tea circle promote?
- Google cloud establishes Web3 team
- Speech eloquence training site, sharing interactive skills to move the audience
- Little red book nanny tutorial 2022 how to make brand marketing decisions
- "No sheep, no cattle" sheep milk powder: from "cognitive dimension upgrading" to "conceptual impact"?
- In the future, bytes will make music "shorter"?
- What is a good company for Changsha Tiktok short video operation company
- Which major is the "three rural" Shenyang Tiktok short video operation company?
- Which specialty of Xi'an Tiktok short video operation company of food category?
- Clion announces the latest development roadmap
- Microsoft metauniverse may be based on Web
- Young people who choose to live in a 10 ㎡ RV
- Tax friend shares lost Dongfeng, and there was no leader in fiscal and tax SaaS
- Samsung Galaxy Z fold 4, Z flip 4 and watch 5 batteries appeared in BIS, the Indian regulator
- Why do more and more online stores choose customer service outsourcing? Is it better to hire customer service or outsource customer service?
- Outsourcing "demonized"? Should programmers consider outsourcing companies?
- 5300 fruit shops, supporting an IPO
- Ranking of top ten cities with new energy vehicle sales in 2022q1: BYD ranks first among all cities
- Buffett's strongest interpretation: the best way to get rich is to get rich slowly
- Under the tide of transformation and drama making, did the film company make money?
- [prize collection] my dialogue with my mother's soul | the daily life of empty nest youth
- PC parts manufacturers: customer orders will not decrease during the period of epidemic prevention and control in China
- The BBC announced that it will hold its first game music theme concert this year
- Hard to quit personalized recommendation: every "guess you like" is "peeping" into your life
- IC insights: Global Semiconductor R & D expenditure will continue to grow by 9% in 2022, breaking the record again
- 24 platforms and enterprises were administratively punished. Shanghai Police strengthened the source control of distribution and delivery business
- [retail circulation weekly report] eight retail circulation stocks were listed in the "pre delisting" list by the SEC; Baiguoyuan and Hongjiu fruits hit the "first share of fruit retail"; Suning Tesco was "ST"