After Strong 2013, Pegasus Fund Hits Snag

The Pegasus hedge fund is down close to 10 percent in 2014 after being up 63 percent in 2013, and the fund managers are not looking for excuses or “moaning about irrationality,” as they say in a recent investor letter.  It’s time to “man up!”  In fact, the fund CEO views an opportunity to invest after a drawdown, seeing. “the current (net asset value) of Pegasus as an opportunity.”

Pegasus Fund's trading loss

Reflecting on a trading loss can be painful for a fund manager, the hindsight that comes from experience knowing at the woulda, shoulda, coulda in the portfolio managers mind. May 15 was one such day for Pegasus. ...