Boaz Weinstein has lost money this year in his flagship credit fund as he waits for turbulence in the debt markets to return.
His Saba Capital Management’s main fund, which manages about $1 billion, dropped 7 percent in the first 11 months of 2017 after being one of the top hedge fund performers last year, according to a person with knowledge of the returns. Weinstein, 44, historically has made money exploiting the price differences of related credit securities, but the roaring bull market in credit has meant fewer opportunities for him to profit as volatility has plummeted.
