Crescat: Chinese RE Bubble Dwards What We Saw In 1980s Japan

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Crescat: Chinese RE Bubble Dwards What We Saw In 1980s Japan

 

November MTD Net Estimated Performance through November 15, 2016

Crescat Global Macro  +8.4%
Crescat Long/Short:  +5.1%
Crescat Large Cap:  +3.0%
S&P 500:  +2.7%

What Investors Need To Know When Choosing A Private Equity Manager

investor 1652197064It's no secret that this year has been a volatile one for the markets. The S&P 500 is down 18% year to date, while the Nasdaq Composite is off by 27% year to date. Meanwhile, the VIX, a key measure of volatility, is up 49% year to date at 24.72. However, it has spiked as Read More

All three portfolios are even higher since the 15th. Post US elections, Crescat has been very active in order to take advantage of changing market fundamentals and sector rotation. However, much of the market action has fallen into line with our pre-existing macro themes and positioning. For example, the Crescat Global Macro Fund was up 4.8% net on the day after the election.

The great news for our investors is that the entire year’s drawdown in the Global Macro Fund was erased in the first five days after the election. The fund is now in the black year to date with 14 out of 17 of our macro themes up in November. We exited the Maturing Expansion theme and added a US Fiscal Stimulus theme last week. We will continue to work hard to protect the gains and keep them going through year end and beyond.