Ronin’s ‘Cypress’ hedge fund drops about 30% in Q3, erasing nearly all of its 44% gain

TREE NEWS update: According to people familiar with the matter, Ronin Capital’s ‘Cypress’ hedge fund fell about 30% in the third quarter, erasing nearly all of the 44% gain it had achieved from the start of the year through the end of June. The fund dropped roughly 25% in July alone and continued to slide in the following months, leaving its year-to-date return at just 0.6% as of the end of September.