Celebrity Andrew McCreath of BNN is having a good time
The famous celebrity hedge fund manager Andrew McCreath of BNN fame is having a moment right now thanks to his assets under management (AUM) reaching $1 billion and his two funds having a positive performance so far this year.
His long-short fund has increased by 5.35% as of the end of April and has achieved a respectable compound growth rate of 11.93% over the past five years. This particular fund has a history dating back nearly ten years; it has achieved a compounding rate of 15.64% and has experienced a drawdown of just under 10% at its worst.
To set the record straight, this picture was taken quite some time ago; at this point in his life, he sports a goatee. Andrew has a history of working for Synergy and Waterfall, two entrepreneurial firms in the money management industry that have since been acquired by larger players. Both of these firms were in the process of being acquired when Andrew was employed there.
The fact that members of Synergy were not afraid to make costly stock purchases was one of the things that set the group apart from others. 2012 marked the beginning of operations for Andrew’s current company, which goes by the name ForgeFirst. When it first started doing business, its overarching goal was to preserve the capital of its investors while also producing returns that were significantly higher than the market average.
After the global financial crisis, a lot of people came to the realisation that they did not want to see the value of their investment portfolios plummet by eighty percent, and this sentiment became widespread during that time period. After the global financial crisis, a lot of people came to the realisation that they did not want to see the value of their investment portfolios plummet. Forge First is one of the few of these types of funds that has persisted, delivered, and been successful. Although there was a proliferation of these types of funds in the past,
Daniel Lloyd, a young and spirited upstart, was eventually recruited to join the Forge First team as a member of the squad. Before he joined forces with Andrew, Daniel established his own hedge fund and was working in partnership with the late Jim Doak, a well-known Canadian investor. During this time, Daniel was collaborating with the man who would later become Jim Doak.
During this time, Daniel was also working with a well-known investor who was a separate partnership. I was very envious of Daniel at the time because I remembered seeing his bold pronouncements (especially about oil prices) on BNN. At that time, I was very envious of Daniel. On the other hand, I now know that those kinds of hot hands don’t last nearly as long as I once thought they would.
The primary reasons for this year’s outperformance are the exposure to energy markets as well as the short book, which is something that legitimate hedge funds are required to always keep. This year’s outperformance is primarily attributable to these two factors. ForgeFirst employs only eleven people in total, including two project managers, two analysts, and one trader.
The company also has one customer service representative. (The Chief Information Officer role is currently held by Andrew McCreath). As a result of the performance fees, it seems like a business that can generate a reasonable amount of profit. They are looking to expand their sales force and are interested in hiring more people.
I’d rather not have to make any choices concerning hedge funds or other alternative investments because it’s so challenging to assess their performance. If you place a higher priority on preserving stability rather than increasing performance, then the numbers seem to indicate that everything is fine.
I am not currently suffering from clinical depression, and this is not a paid endorsement of any kind. But I am getting low on kompromat, so if you have any suggestions, particularly regarding the performance numbers of various funds, please send them my way. In particular, I am interested in hearing about the performance of various hedge funds.