Bitcoin Hedge Fund Up 2,129% Raises Concerns

With Bitcoin up a strong 321% year to date, cryptocurrency hedge fund manager John Chalekson looks like a genius. The crypto hedge fund, whose marketing materials for limited liability partnerships are available online, delivered 2,129% returns to investors basis August without using leverage. In fact, in May, Chalekson claims to have been up 273%, primarily by investing in new currencies. The man whose Facebook profile who lists himself as a “principal investigator at Wikileaks” and claims to use “deep web information flows” to conduct cryptocurrency analysis claims to have found success by picking little-known crypto-currencies at very low levels.

[dalio]