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Balestra, Once a High Flier, Comes Down to Earth

James Melcher’s New York-based macro firm, which shot to fame on huge gains during the credit crisis, has struggled of late and is losing assets at a rapid clip.

Balestra Capital, the once-high-flying New York macro firm headed by James Melcher, is hemorrhaging assets following what looks to be a second straight year of negative performance. Balestra’s assets shriveled to just $278 million as of the end of November, according to a recent report sent to clients. This is way down

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