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Tyser, Horseman Show Investors Not All Hedge Funds Are Losers

Bloomberg – Harry Tyser, manager of the $100 million New Star Firefly Hedge Fund in London, was still trading while being wheeled into the operating room for kidney- stone surgery.

“It’s life and death out there right now,” said Tyser, 40, who used his mobile phone to call in sales before his July procedure. “You need to keep moving your feet in markets like this. There are moments in life to make money and moments where the secret is just not to lose it.”

Tyser’s fund, which bets on rising and falling stocks, returned 3.7 percent last month, according to investors. Few rivals were as fortunate as the average hedge fund fell 6.9 percent, the biggest one-month loss in a decade, according to Hedge Fund Research Inc.’s HFRX Global Index.

Managers who did post profits last month include John Horseman, whose $3.2 billion Horseman Global stock fund rose 5.7 percent, bringing the gain this year to 15 percent, investors said. Carol Brown, a spokeswoman for Horseman Capital Management LP in London, declined to comment.

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