Sunday, December 2, 2012

Toscafund Quant's World Tour--Largely un-American

Non-trivial heads-up: on Aug. 1, 2008 Toscafund announced that it had a 6% stake in Washington Mutual.
On September 25, 2008 the Office of Thrift Supervision seized WaMu and put it into receivership.
By October of that Annus Mirabilis (or horribilis, depending which side you were on) the fund was showing a YTD loss of 66% and the FT headline was "Tosca chief pleads for investors to keep faith".

They seem to be doing fine right now though.

From Toscafund via DocStoc:


HT: Hedge Fund Letters who calls it a must read.