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This Hedge Funder Stands Out in a Rough 2016

December 22, 2016

Jason Mudrick, who manages the $1.4 billion Distressed Opportunity fund, is putting the finishing touches on a dramatic turnaround. After finishing 2015 down 25%, Mudrick fund is up nearly 40% through 12/16/16. By comparison, the average hedge fund generated a 6.3% return through 11/30, and the S&P 500 Index is up 9.3% over the same period.

 

“It was a good year for distressed generally,” Mudrick told The Post. He added that volatility brought on by the changing administration should provide interesting investment opportunities in 2017.

 

Other bright spots in 2016:

  • Renaissance Technologies has been a consistent winner this year, relying heavily on computer-based models. It’s up 14% through 11/30.
  • David Einhorn’s Greenlight Capital staged a slight comeback after a dismal 2015 – it’s up 6.6% through 11/30.

 

Bill Ackman’s Pershing Square, once again, is set to take another beating this year. After returning 40% in 2014, the fund lost 20% in 2015 and is down 12% through 12/13.