A number of marquee long/ short names turned in stellar performances in 2007, a year when equity markets experienced wild volatility as the VIX (volatility index) moved to 22.5 in December, up from 11.6 a year earlier. Stockpicking was key.
One of the top-performing global equity funds was Zweig-DiMenna International, which gained 79.1% for the year. By comparison, the Absolute Return Global Equity Index returned 12.5%, and the MSCI World rose 7.1%.
A number of Tiger cubs, known for their stock-picking prowess, trounced the average global long/short fund. Chris Shumway's SCP Ocean Fund gained 51.1%, Steve Mandel's Lone Cypress