2014 Outlook: Liongate’s Rick Teisch hails the year of the activist and the stock picker
By Simone Foxman
Wed Jan 15, 2014
The director of research for North America at Liongate Capital Management, which manages $7 billion in fund of fund and advisory assets, weighs in.
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| ||Rick Teisch is director of research (U.S.) at Liongate Capital Management, which manages $7 billion in fund of fund and advisory assets|
What hedge fund strategies will do best in 2014? Why?
Going into 2014, I favor equity long/short, event-driven, and niche credit strategies.
Topping the list this year is equity long/short. We've essentially had a five-year bull market and are coming off a huge year for equities that saw the S&P surge almost 30%. Fundamentals were not the driver, as the vast majority of last year's gains were attributable to multiple expansion rather than earnings. And, although earnings grew somewhat, that growth was mostly...
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