Wednesday, September 29, 2010

"Tudor Sells Completely Out of Renewable Energy Holdings (LON: REH)"

Mr. Jones is one of the global macro heavyweights although last time I looked his performance was slipping.
From Market Folly:
Just yesterday, we highlighted that Paul Tudor Jones' hedge fund had reduced its position in Renewable Energy Holdings (LON: REH) to a 3.99% ownership stake in the company. They've just filed another regulatory disclosure which reveals that the hedge fund sold completely out of REH and now own 0 shares due to trading on September 24th, 2010.

What's interesting here is that Weiss Asset Management (the investment manager to Brookdale International and Brookdale Global), have just acquired a 6.5% holding in Renewable Energy Holdings due to trading on the exact same day. So, it's somewhat likely that Tudor was essentially selling to Weiss....MORE
The advantage and disadvantage of global macro is It Is Not Easy. You have to pay attention and you have to understand the interrelationships of many markets and politics and weather and psychology and be facile in both words and numbers and in an ego-driven business be humble enough to learn the lessons the market will teach you.

It really helps to not take yourself too seriously, both to avoid the temptation to impose your will upon the market and to maintain enough perspective to spot opportunities ahead of the crowd.
Because global macro isn't easy the rewards can be tremendous.