Hedge Funds

Vinik, Tiger alum leads CMK turnaround


After netting a whopping 33% during the last two months of 2004, Creighton Kang's CMK Capital reversed a deep drawdown to return to virtually flat by year-end.

In a letter to investors on January 3, the former analyst at Jeff Vinik's Vinik Asset Management and Julian Robertson's Tiger Management said that the experience had taught him important lessons in portfolio management and adjusting exposure as market conditions shift.

With his marquee pedigree, the Tiger alum attracted considerable interest and about $55 million of capital when he launched his fund in April 2003. The fund was pummeled the next April, however,