Continental Capital Advisors May
Continental Capital Advisors Make 20% in May Volatility
In a month that saw most hedge funds struggle to keep losses to a minimum, one New York-based firm bucked the trend, gaining 20% in May.
Continental Capital Advisors, which was co-founded in March 2009 by a pair of former analysts at long/short hedge fund Pilot Advisors, welcomed the volatility in May that brought so many of its peers to their knees. The hedge fund is now up 6% year-to-date.
"Our strategy is to capitalize on asset price deflation using several instruments—currencies, commodities, equities globally—currently that's a long-bias toward precious metals, while we short largely domestic-only U.S. companies," Daniel Aaronson, co-founder and portfolio manager of the firm, told FINalternatives. "The problem started with America and it's going to end with America, so that's where we want to be attacking on the short side." Source