Hedge Funds
Until recently, John Burbank's Passport Capital was one of the top 15 performing hedge funds in 2015. Recent events have only led to an even higher YTD P&L making Burbank one of the top performing managers of 2015: the $2.1bn Passport Global fund was up 14.6% at the end of August and the concentrated "special opportunities" fund was up 30.6%. The reason: in recent months Passport placed numerous commodity and emerging market shorts: trades which have generated substantial returns even as the rest of the "hedge" fund peanut gallery blamed either Bridgewater, or - in the case of Bridgewater -...