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Henry shutting down his fund

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6 replies to this topic

#1 wutang112878

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Posted 09 November 2012 - 04:12 PM

This is being reported in a few places and its effectively shutting down at years end.

Do we begin to look at those rumors about selling and minority partners a little differently now?

According to the Boston.com article his firm's assets have dwindled down to $100M, and that probably took a little while, so it shouldnt create an economic shock for the team, but I would imagine there will be some impact.

Fixed the last sentence, its the firms assets that have gone down to $100M not Henry's personal assets.

Edited by wutang112878, 09 November 2012 - 04:29 PM.

#2 SoxScout

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Posted 09 November 2012 - 04:18 PM

According to the Boston.com article his assets have dwindled down to $100M, and that probably took a little while, so it shouldnt create an economic shock for the team, but I would imagine there will be some impact.

The article says the firms assets, not Henry's.

Edited by SoxScout, 09 November 2012 - 04:18 PM.

#3 NJ Fan

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Posted 09 November 2012 - 04:19 PM

Your final sentence is a bit misleading. "His" assets haven't necessarily dwindled to $100mm...the article refers to the fund's assets. Big difference.

Edit: SoxScout aced me out...

Edited by NJ Fan, 09 November 2012 - 04:19 PM.

#4 JimD

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Posted 09 November 2012 - 04:33 PM

Well, if we take to heart the rampant criticism that Henry's attention to the Red Sox franchise has been lacking in recent years, I guess this can potentially be viewed as a good thing.

#5 ItOnceWasMyLife

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Posted 09 November 2012 - 05:27 PM

I'm sure it eliminates his clients from becoming owners given the hit they took from him.

You know, he just isn't the same player since he got married.

Jokes aside, as a Henry supporter, I hope there's still plenty of room between where he is and where he has to sell the Sox. But he may be the only one that knows that answer for now. Hopefully he'd let loose of Nascar, LeBron and EPL before selling the Sox.

#6 barbed wire Bob

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Posted 09 November 2012 - 05:36 PM

From the Wall Street Journal (might be behind the firewall):

That performance has faltered in recent years, slumping badly in 2012. The returns of Henry's five trading programs available for its investors have ranged from a loss of nearly 1% to a loss of over 21% this year, and a loss about 2% to a loss of about 32% over the past year, according to the firm.

Two of John W. Henry's funds are each down more than 6% over the past three years, the firm said. Over five years, they are up 8.8% and 4.6%.

"The current market environment of low volatility, where policy makers have been effective at managing prices, has proven especially challenging for trend-following trading strategies," Kenneth Webber, the firm's president and chief operating officer, wrote in a letter to clients in September entitled "Low Volatilty Creates a Challenge for Trend-Followers."

The article also says that Henry hasn't had a hands-on role at the trading firm in recent years.

#7 Harry Hooper

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Posted 09 November 2012 - 10:37 PM

From the Boston.com item:

Henry, 63, in response to questions from the Globe Friday, said in an e-mail, “I haven’t run the company since 1989. We’ve always had a mathematical approach and a philosophy that hasn’t changed.”

But markets have changed since then, making it more difficult to exploit changes in commodity prices. “It is clear that economies are much more managed than they were,’’ Henry said.

He said that his firm’s decline has “caused a number of potential investors to call me” about whether he would sell the Red Sox, but he has rebuffed such a notion.

“My answer has been that I’m not interested in selling any portion of my ownership. While others within the partnership have sold all or portions of their stakes over the past 11 years, my percentage of ownership has increased,’’ Henry said. “I have no interest in reducing that. If anything I expect it to increase over time.”

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