Shawn Bergerson's Waterstone Capital Management is off to a running start this year, with its flagship Waterstone Market Neutral Master Fund, a convertible and equity arbitrage portfolio, up 2% in February to total 6.13% for the year. Those numbers far outpace the Absolute Return Convertible & Equity Arbitrage Index, which rose 1.10% in February and is now up 2.08%.
Waterstone, which...