Steve Cohen One of Few Bright Spots in Bad Year for Hedge Funds (NYPost.com) This year, only a select handful of winners materialized, including: Point72 Asset Management’s Steve Cohen, the potential new owner of the New York Mets, had a home run in 2019 with 13 percent returns as of the end of November. His investment wins were overshadowed, however, as news broke in early December that the billionaire was nearing an agreement to become the majority owner of the Mets in a deal that’s widely expected to inject fresh energy – and loads of cash – into the losing team. Bill Ackman’s Pershing Square Capital soared more than 50 percent for the year, sources said. That’s a major recovery for Ackman, who was left for dead in the middle of 2018 after a disastrous five-year, $1 billion bet against nutrition company Herbalife. Ackman has credited his fund’s comeback to his new wife, MIT professor Neri Oxman, whom he wed in January.
Imagine if you would have flashed this quote from 2020 on the video screens at the 2006 Sohn investing conference....half the audience probably would've choked on their hors d'oeuvres.
it's funny that most of these guys when they write up prospectus they always benchmark against the SPY.. usually after a few lucky years of beating the SPY so they can actually try to get potential investors. then once they get crushed by the SPY they go - well our strategy wasn't really created to measure against the SPY lol.