Bob Treue has maintained his composure despite losing 4.3% in May, his first down month in a year and a half. The month that did much worse damage to a variety of strategies was, he believes, just a bump. “It’s a sign that people are still very scared,” he said. “I don’t see anything dramatically changing.”
Treue’s firm, $432 million Barnegat Fund Management, hasn’t altered its focus as a result of May’s mayhem, which lowered the return of its flagship fixed income arbitrage vehicle, Barnegat Fund, to 7.1% for the year. “Generally, when people panic, we lose...