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Hennessee Group Outperforms Major Indexes In August, Rises .90%

Hedge fund adviser Hennessee Group, LLC, reported a strong performance in August, climbing +.90%, as all other major indexes fell. The S & P fell 0.90%, the Dow Jones Industrial Average fell 1.50%, and the NASDAQ Composite Index dropped 1.50%.

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Hedge fund adviser Hennessee Group, LLC, reported a strong performance in August, climbing +.90%, as all other major indexes fell.

The S & P fell -0.90%, the Dow Jones Industrial Average fell -1.50%, and the NASDAQ Composite Index dropped -1.50%.

“Fed tightening continues to worry most managers as they fear the Fed may go too far,” said Charles Gradante, managing principal of Hennessee Group. He added that “higher cost of capital has helped fundamentally drive stock pickers as ‘noise’ from speculation and momentum traders decline.”

Hennessee’s Long/Short Equity Index rose +0.62% in August, with a +4.71 percent increase for the year. Its Arbitrage/Even Drive Index was up in August, returning +1.07%, and +3.13 % YTD.

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