Ping Jiang Back In The Black (Whiteboard Marker)
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Not even reaching for it this year.
The whiteboard marker aficionado and SAC alum’s Ping Exceptional Value fund swung from a 29% loss in 2014 to a 39% gain in 2015—good enough to take the top spot in Bloomberg’s ranking of the best-performing hedge funds with between $250 million and $1 billion in assets (which category Ping only just makes at $255 million, thanks to the aforementioned 39% gain) and make his old boss proud. But not as proud as old Steve must be of Gabe Plotkin, who managed to avoid some unpleasantness with Preet Bharara on the road to a 47% return in his Melvin Capital’s first year—good enough for second on the overall list. And since that list doesn’t include those happily toiling away at family offices with no thought whatever of raising outside capital, Steve’s pride needn’t even be tinged with envy or an uncontrollable desire to destroy his ungrateful former underlings…
Ping Jiang Back In The Black (Whiteboard Marker)
