Pedge Fund performance - 200811

Just a quick post to relate the performance of PedgeFund for the month of November. October is available here.

Summary:
Pedge Fund USD
November performance: +5.4% (gross, approx)
Year to Date performance: +50% (gross, approx)

Highlights:

• Gains thanks to the precious metals (long gold and silver)
• Losses on long equities
• Losses on short treasuries
• Was in holiday the last week of November, where substantial volatility occurred (and the losses on the treasuries).
• Little support thanks to dividends and put options on the dow

That's it really!