Bloomberg – Dear investor, our statutory obligations demand that we update you on how well we’ve taken care of your money here at Coin-Toss Investment Management.

Attached to this missive is a picture illustrating our fund’s performance this year, showing how wonderfully our back- to-basics approach is working after the derivatives-inspired lunacy of recent years. We’re calling our new strategy “mark- to-flatline” — slow and steady, it sure beats floundering on the double-black expert slopes of last year’s chaotic madness.

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Tags: coin toss, derivatives, investment-management, investor, madness, missive, money, new strategy, slopes, statutory obligations

Reuters – Hedge fund manager James Pallotta, who long delivered some of the industry’s best returns, told clients on Tuesday that he will shut down his $800 million Raptor Global fund in July.

Pallotta, 51, told investors that he had grown concerned about the $1.3 trillion hedge fund industry’s short-term focus and that he plans to restart his fund after taking a few months off to create a new strategy.

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Tags: global fund, hedge-fund-manager, investors, james pallotta, new strategy, reuters, term focus, trillion