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leftskew


Total Posts: 20
Joined: Sep 2019
 
Posted: 2020-06-15 18:53
There was a pretty large crash in quant equity style factors the first week of June coincident with their drop. These factors bounced most of the way back the second week in June, so I figured rentec funds would also bounce. However this was wrong, they were basically flat the second week of June. So either they are exposed to a factor that didn't bounce like the rest, or maybe they took off exposure at the bottom. Either way looks rough for them.

I don't have any info on medallion but I have no reason to assume it did anything unusual during this period.

Given they still have their 10B money printing machine, rentec should be fine.

EspressoLover


Total Posts: 432
Joined: Jan 2015
 
Posted: 2020-06-15 23:39
One thing to consider is that RIDA may simply be less risk-adverse to these types of selloffs than the average equity market neutral fund.

Medallion, by trading at much shorter horizons, probably over-performs during periods of market turmoil. RIDA and Medallion would act like natural hedges against each other. In the same way that bonds hedge stocks in a 60/40 portfolio. That probably encourages the insiders to over-leverage RIDA, at least relative to what's optimal from the perspective of a standalone investor.

Good questions outrank easy answers. -Paul Samuelson

Billymazee


Total Posts: 5
Joined: Oct 2019
 
Posted: 2020-06-26 13:38
Medallion up 58% YTD through mid-June.https://twitter.com/GZuckerman/status/1276246846084730881
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