Colosseum Global Alpha, managed by Oleg Sutjagin and Eric Andersson, entered the new year with a net exposure of around 12 percent, a positioning that would normally imply limited sensitivity to broad market moves. Beneath the surface, however, extreme dispersion and what the team calls “parabolic price” movements across individual stocks quickly overwhelmed the fund’s “low net” balance, resulting in a sharp drawdown.
The fund fell 14.2 percent during the month, with losses driven primarily b...
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