Peter Thiel's Temper Rises As Clarium Capital Declines

September 4, 2009 10:30 AM EDT
A source said Peter Thiel's Clarium Capital hedge fund continues to struggle navigating through the current economic environment. Source indicates the hedge fund was down another 4.5% in August and down 8.3% YTD.

The source says the normally cool-as-a-cucumber Thiel was seen screaming at Clarium's Managing Director Jack Selby a few days ago. The source referenced the move to New York from San Francisco as the "jinx" that was the possible catalyst for the decline.

Fund assets are also said to have shrank from about $2 billion to $1.5 billion. The fund was at $7.8 billion in June 2008.

The purported breakdown of performance for August was:
-1.4% on commodities.
-1.1% on US equities.
-1.0% on foreign debt.
-0.8% on currencies.
-0.3% on foreign equity.
Only bright spot was +0.1% on US debt

Clarium is an investment management firm pursuing a global macro strategy with offices in New York and San Francisco. Peter Thiel co-founded PayPal and was an early investor in Facebook.

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Clarium Capital Management, Hedge Funds, Peter Thiel