Is there still money to be made in L/S?
Whats the opinion of the people in here if theres still money to be made in L/S? Is it dying? Is it possible to generate consistent returns?
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yes judging by last yrs returns
Bump
You ask this question after the best year for HFs in a decade?
How's your 1Q21?
Yes. Next question.
Pershing square, end thread
The fund anyone outside the industry mentions to pretend they know about the industry. Congrats!
It’s no more Pershing. Now it’s Tiger Global.
Ah yes the classic L/S shop, Pershing square
My understanding is that Ackman has shifted to long-only, anyone else get this impression?
As long as the Fed is willing to keep rates nice and low there will always be money to be made in l/s equities
Fucking money printer
Yes
Definitely. 2020 was one of the best years to be in L/S.
Every monkey, idiot, and their grandma made money in 2020. That's not saying much.
in 2020 Millennium made 150% more than 2019...so i would say YES
Every monkey, idiot, and their grandma made money in 2020. That's not saying much.
A slug could have made money in 2020.
Don't forget the hamster. RIP.
Yeeesshhh
Yes, we've seen really good performance out of L/S recently, admittedly in a bull market. L/S should not necessarily always outperform the S&P on an annual basis, but should outperform over the whole market cycle. At least that's how I think about L/S, the shorting can hurt short-term and provide benefit in the long-term.
Every monkey, baboon, clown and their grandma made money in 2020. That's not saying much. I don't know any person who didn't make money in 2020.
Show me someone who made 100% in 2021, that's right I didn't think so. If you made 100% in 2021 that's skills. Otherwise STFU
every grandma and her rotten toe nails could have made money in 2020. Show me someone who made 50%+ in 2021 and that's skills. 2020 was pure dump luck and many people got paid more than they deserve for luck (right place right time)
Depends on how good your short book is
Yup! Altimeter for example is quite long on tech (reasonable, considering they are tech L/S), but they had a pretty good basket of SPACs that they shorted late last year / early this year. A lot of alpha if you can find the right names, plus returns are bigger. A lot of risk too. Diversification is vital, not every team has the bandwidth to have a diversified short book.
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