By the end of November, it was clear that Peter Thiel's hedge fund Clarium Capital was having a horrible year, and would possibly be heading to the deadpool.
Apparently, December didn't help matters.
The Silicon Valley investor, who turned a $500,000 investment in Facebook five years ago into gold, is having the opposite effect when it comes to running his hedge fund, which lost 10 percent in December and ended 2009 down a whopping 25 percent.
The double-digit declines came as other hedge funds ended last year in the black, with many even erasing the punishing losses sustained in 2008 at the height of the financial crisis.
According to performance data obtained by The Post, Thiel's hedge fund, Clarium Capital Management, lost $300 million in December to end 2009 with $1.33 billion in assets under management. At the start of the year, Clarium boasted $2 billion in assets. His hedge-fund assets peaked in 2008 at more than $7 billion.
It was doing well for awhile after Thiel launched it in 2007, but halfway through 2008, Clarium started performing poorly.
Thiel and Jack Selby, who run Clarium together, apparently fight all the time too. Let's hope 2010 brings better fortunes.
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See Also:
- Clarium Capital's Jack Selby Puts Out Trailer For New Movie, And It Looks Way More Fun Than Fighting With Peter Thiel
- Peter Thiel: Gold Is The "Anti-Investment"
- Peter Thiel's Hedge Fund Smashed, May Be Headed For Deadpool
Full story at http://feedproxy.google.com/~r/businessinsider/~3/WCavHghMbmU/peter-thiels-hedge-fund-lost-tons-of-money-this-year-2010-1
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