Tiger short star Goshen crushed in rising market
By Rob Copeland
Wed Oct 2, 2013
Former Fund of the Year winner down nearly 66% since 2008 in flagship strategy.
||Chris Burn at the 2008 Absolute Return Awards|
In December 2008, as he closed in on a whopping 73% gain for the year, Tiger-backed Chris Burn of Goshen Investments ascended the stage at the Absolute Return Awards to accept the Fund of the Year trophy. It had been a year to remember for Burn, whose flagship Goshen Global Equity fund profited mightily from short positions on financial stocks with exposure to subprime mortgages, a sister strategy to the famed fixed income and derivatives bets of his higher-profile peers.
"We will continue to be an industry that will deliver differentiated returns for our investors, particularly those investors who understand our strategies," Burn said. "Above all, I look forward to someone else blowing me off the podium next year."
Few could have predicted how far from the winner's circle he would fall. Like Paulson & Co., which took...
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