Roystone Capital Management is a value-oriented hedge fund founded in 2013 by Rich Barrera, formerly of Redwood and Glenview. The fund invests both long and short in equities and credit. All the below analysis is purely on their long equity book they’re required to publicly file, so does not encapsulate their entire book. Given the asset class profile of Roystone’s investments, and the fact they did not reach sufficient size to file till Q4 2013, this is an important disclaimer. This analysis does not include their first year, and the multi-asset class long/short nature of their portfolio means actual performance and...