Hedge Funds off to Good Start in 2012 with Apple
A clutch of big-name hedge fund managers have gotten off to a quick start in 2012. What have they got in common? Apple.
By Stephen Taub
Its almost all about Apple.
Hedge funds have gotten off to a pretty good start this year, according to the results of a half dozen or so high profile investors that have already reported their results to clients. Yet none of them are beating the overall market.
More importantly, the early look at performance indicates it helped to have a big position in Apple, which surged 34 percent in the first two months alone.
For example, Steve Cohens SAC Capital was up 1.8 percent in February and 4.5 percent for the year. This compares with a 9 percent gain for the S&P 500 during the first two months.....