Tourbillon Capital, a $3.4 billion hedge fund that's been sounding the alarm about 'frothy speculation,' is suffering big losses

pulse

November 21, 2017 8:48 PM

PRIME: Tourbillon Capital, a $3.4 billion hedge fund firm led by Jason Karp, is having a tough time.

Tourbillon Capital is a $3.4 billion New York hedge fund led by Jason Karp.
Karp has been warning of "frothy speculation,"
The firm's flagship fund is down more than 10% for the year to November 17.

Tourbillon Capital, a

The firm's flagship Global Master fund is down 3.5% for the first 17 days of November, bringing performance for the year to November 17 to a loss of 10.6%, according to a note to investors seen by Business Insider. Its long-only fund was up about 10% through October, Business Insider previously reported.

In an October letter to investors, Karp preached patience, saying the fund saw Those comments echo earlier letters, which have discussed thechallenges of managing money in the current bull market.

In the October letter, Karp added that despite this,

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