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Neal Berger Eagle’s View Capital Fund Manager Hits 2022 Out Of The Park : A Profile Of The Star Hedge Fund Manager

Neal Berger Eagle’s View Capital Fund Manager Hits 2022 Out Of The Park : A Profile Of The Star Hedge Fund Manager

Business News

With the launch of Eagle’s View Contrarian Macro Fund, experienced trader Neal Berger wagered on the end of easy money and achieved returns of 160%+ in 2022. 

Neal Berger has over 30 years of experience on Wall Street and over 25 years in the hedge fund industry. He founded Eagle’s View Capital Management, LLC in January 2005 and has been its Founder, President, and Chief Investment Office ever since. After sixteen years of running Eagle’s View as a fund of funds, Berger decided to integrate his own fund into the portfolio.

In April 2021, Berger used proprietary capital and introduced the Contrarian Macro Fund, despite policymakers deeming US inflation at the time to be transitory. Berger’s fund bet that central banks around the world, including the US Federal Reserve, would reverse their prior policy course of increasing the money supply toward a posture of instead extracting liquidity and increasing rates to limit inflation. As this thesis started playing out, Berger allowed external investors to enter the Fund. 

Berger launched the Fund as he believed that the global central banks’ posture toward liquidity has changed 180 degrees. $25 trillion of liquidity had been pumped into the system since the global financial crisis, yet, this was always intended to be a temporary measure responding initially to the impact of the global financial crisis and more recently, the COVID-19 pandemic.

It seemed inevitable to Berger as early as April 2021 that the global central banks would urgently move from a liquidity infusion posture to a liquidity extraction posture in response to global consumer price inflation.

As a result, central banks around the world would normalize their balance sheets which would present a headwind for asset prices in contrast to the tailwind provided during the many years that central banks were adding liquidity to the system.

Berger wagered correctly, and his macro fund yielded north of 160% returns during 2022.

The CMF now manages $200 million in total, which is nearly 30% of the $700 million that his Firm, Eagle’s View, manages in total. While Berger has enjoyed recent triple digit returns on his less than 2 year old Contrarian Macro Fund, he has been running a very successful investment organization for many years. For over a dozen years, Eagle’s View has generated returns throughout all types of market conditions.

For example, Eagle’s View was profitable during both 2021, a strong year for markets in general, and 2022, a weak year. Eagle’s View was reportedly +20% approximately in both 2021 and 2022. It is also reported that Eagle’s View generated positive results during March, 2020 which was one of the most challenging investment periods. As a multi-manager fund, Eagle’s View seeks to generate non-correlated, smooth, steady, robust returns throughout any market environment.

Berger emphasized in an interview with Bloomberg that much of his success is not from focusing on ‘being right’ about the economy, rather, on generating returns for investors. As a macro trader, fundamental views must be set aside, and, instead, the price action informs the basis of all decisions. When Berger’s fundamental opinions align with market price action, this creates the ideal environment for macro trading. Furthermore, Berger doesn’t act upon predictions, rather, factual observations.

For example, as of today, markets have been substantially declining for the past year or so. Berger stated that it would be arrogant of him to assume that the trend will stop now without validating this conclusion with market price action moving in a manner to suggest a bottom is in. Until this is seen, Berger will continue to respect the price action and play markets from the short side. “Price action is ultimately the bible,” he says. 

Business News

Neal Berger Eagle’s View Capital Fund Manager Hits 2022 Out Of The Park : A Profile Of The Star Hedge Fund Manager