market folly

At first, we thought it was a bit odd that we were reading commentary coming from Pequot Capital, seeing as they are liquidating their core fund (And, not to mention, we just revealed some of the positions they were unwinding). Donno, just seems weird to us, even if they are shutting down mainly due to poor image and marketing problems, more-so than poor performance (after all, AUM is king in hedgefundland). Just seems like we're reading something from the grave, even though 2 of their funds will still remain open. In the past, we've covered some of Byron's previous commentary too.

Take note that this particular piece deals more with the state of affairs regarding Pequot and does not really deal with market commentary like Byron's typical work. Unique circumstances, obviously. RSS & Email readers may need to come to the blog to view it. Attached below is the July 2009 commentary from Pequot's strategist Byron Wien: