Tantallon Fund Report,
October 2024
For reasons best known to my administrator the October month-end was struck on the 30th, and we closed the month -27bps, +41.00% year-to-date. This spared my blushes as the p+l on the 31st was one of the worst ever and would have
racked up the third consecutive month in which we got smashed more than 5% on the final trading day.
For a second month in a row, I feel I have screwed up what should have been exceptional returns. Last month it was the absurd cost of the short China trade, and this month, although the residual plays on that thematic, Australia mining and European luxury, have somewhat salvaged things, elsewhere I have watched high teens returns on the long book evaporate at speed.