Pedge Fund USD
December performance: +2.2% (gross, approx)
Year to Date performance: +53% (gross, approx)
- Gains thanks to the precious metals (long gold and silver)
- Nice gains on Northgate Minerals, bought at $0.56 on the 5th of December, and worth $0.83 on the close of 31st (gain of 48% within a month) though it's a tiny holding in the portfolio.
- BIG losses on long oil (commodity and stocks)
- BIG losses on short treasuries, again
- Losses on treasuries partly compensated by the short USD long EUR position