Where’s The Risk Management?

Atticus shrugs off liquidation rumors. Giant hedge fund Atticus Capital, with $14B under management, denies rampant speculation it may have to sell its positions and close down. Its two main funds have lost 25% and 32% this year, and investors are jittery after this week’s news that Ospraie Management is closing its largest fund after substantial losses. The rumors helped fuel Thursday’s heavy market losses, as other hedge funds sold positions in stocks that Atticus may be forced to liquidate if it closes its fund, including Union Pacific (UNP), down 6%, and MasterCard (MA), down 5.9%. Founder Tim Barakett said “we’ve heard these rumors as well and they’re not true… In fact we have a large net cash position and are looking for opportunities to invest capital.”

From WALL STREET BREAKFAST

DEFENSE WINS THE GAME!!