Crypto Money Fund Dollar Hedge II (CMFDH II) - 2023 Report
Performance Summary: CMFDH II finished 2023 with a 124.89% gross gain and 89.36% gain for investors net of fees. In Q4 2023, CMFDH II increased by 56% before fees, 44% after fees.
This contrasts with Bitcoin's 57% quarterly rise and the S&P 500's 11.51% increase.
Key Questions for 2023
- Did we leave too much potential gain unclaimed?
- Did we prematurely cut losses in our options positions?
We have hired a quantitative analyst who is also a Citadel alumnus to address both questions.
When you’re hedged, there's always some silver lining in a downturn and a sense of missing out during market rallies.
Thank you for investing with us, or consider joining us! We look forward to seeing you at the end of the 1st quarter.
CMFDH I - Three years’ outcome
Crypto Money Fund Dollar Hedge fund operated from July, 2019 to September, 2022 returning 215% after fees to investors when it closed in the 3rd quarter of 2022.
CMFDH had only 2 down quarters, losing 4.21% in the 3rd Quarter of 2022, our second loss. Over its life CMFDH returned 384% over 13 quarters, however the value proposition of the fund decreased to the point at which we decided to close the fund and sent investors back their money. Even though the Fund was down in the 3rd quarter of 2022, not a single investor has lost money.