Tags: Jeff Tomasulo | Hedge-Fund | Managers | Capital

Jeff Tomasulo to Moneynews: Hedge-Fund Managers Are Protectors of Capital

By    |   Monday, 15 April 2013 08:08 AM

Jeff Tomasulo, the managing partner at Belpointe Alternative Investments, is offended when the term “gunslinger” is used in a discussion of hedge fund managers.

“A hedge fund manager to me, and the way I view hedge funds, and most of the hedge fund managers that I’m looking to bring into our firm or the really successful ones out there, are not gunslingers,” Tomasulo told Newsmax TV in an exclusive interview.

“They are the protectors of capital. If a market sells off 20 percent, I want to see that that hedge fund manager was down maybe 10 percent or maybe down 5 percent.”

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Editor's Note: A full, unedited version of this interview is available exclusively to Financial Braintrust Alliance subscribers. Visit www.fbtalliance.com for more information and to sign up.

Meanwhile, Reuters reported that hedge fund billionaire John Paulson lost more money during February when his gold fund suffered double-digit losses as the precious metal and gold mining stocks extended declines.

Paulson's three-year-old Gold Fund, with approximately $800 million in assets, lost 18 percent in February and was down 26 percent for the year when Reuters reported the losses in a March 8 story, two people familiar with the numbers said.

Editor’s Note: Put the World’s Top Financial Minds to Work for You

“In any business there are gunslingers all over and Paulson, on the flip side, made an unbelievable bet right against the subprime mortgages and he made … a couple of billion dollars,” Tomasulo said. “Let’s say there are 50 hedge funds out there that [have] consistently outperformed the S&P and outperformed their benchmarks.”

The average retail investor should not be in hedge funds, according to Tomasulo.

“If you are a high net worth investor, then I think you should have a part of it,” he said. “Just like in other asset classes, hedge funds have … a part in your portfolio.”

Editor’s Note: Put the World’s Top Financial Minds to Work for You

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Jeff Tomasulo, the managing partner at Belpointe Alternative Investments, is offended when the term “gunslinger” is used in a discussion of hedge fund managers.
Jeff Tomasulo,Hedge-Fund,Managers,Capital
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2013-08-15
Monday, 15 April 2013 08:08 AM
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