Continental Capital Advisors May

Continental Capital Advisors May

Continental Capital Advisors Make 20% in May Volatility

Many hedge funds last month suffered losses during the volatility in stocks and the euro but one New York-based hedge fund managed to make 20%.  In May hedge funds lost an average of 2.7%, the biggest loss for hedge funds since the industry dropped 3% in November 2008. 
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

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