SAC Alum Gains Big From Short Bet In J.C. Penney

One of the SAC Capital alums, Tourbillon Capital gained a 15% net return in the third quarter of this year, which is head-to-head with the return on the S&P 500 (INDEXSP:.INX) in the same period, according to a shareholder letter reviewed by ValueWalk. The long/short equity hedge fund was founded by Jason Karp in January this year and for a newly launched fund, it has generated a pretty decent return.

Karp is currently managing $350 million at Tourbillon . . .


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