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Armored Wolf, based in Irvine, California, has about $250
million in assets under management, down from roughly $1 billion
in early 2013, Brynjolfsson said.
Global economic and financial market turmoil led to a rough
quarter for investors, with U.S. hedge funds bracing for their
worst year since the 2008 financial crisis. The average hedge
fund lost 19 percent in 2008 when the credit crunch hit.
"We were short oil and long the U.S. dollar, so we fared better
than the broad asset class, though the tide of broader market
price declines ultimately left us swimming upstream,"
Brynjolfsson, Armored Wolf's chief investment officer, said in
an interview.
"I am extremely grateful that I was given the opportunity to
manage client assets, and that I was able to do it for as long
as I have. I couldn't have done it without standing on the
shoulders of giants, including my now deceased father, prior
employers, clients and all those who worked and transacted with
me."
(Reporting by Jennifer Ablan; editing by Bernard Orr and Richard
Chang)
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