Discovery, Owl Creek Extend Losses Through Mid-October

Robert Citrone’s $15 billion Discovery Capital Management LLC and Jeffrey Altman’s Owl Creek Asset Management LP extended losses in the first half of this month, amid falling stock and bond markets and a legal decision that sent Fannie Mae and Freddie Mac securities plunging.

Discovery tumbled 11.2 percent in a macro fund this month through Oct. 17, bringing losses since the start of the year to 20.6 percent, according to an investor document viewed by Bloomberg News. Owl Creek lost 9.1 percent this month through Oct. 17 in its main fund and 12.9 percent this year.