Bronte Capital Shareholder Letters: The Generalized Short-Selling Debacle Of 2013

Bronte Capital has racked up one of the most impressive performances of its hedge fund peer group over the past six years. From inception during the first-half of 2009, to the beginning of July 2014, when Bronte Capital pooled its funds, the group’s separately managed accounts produced an annualized return of 31.5% and cumulative return of 293.2% after fees. [munger] Bronte Capital: The year of the short 2013 was the year of the short. At the beginning of the year, the market held large short positions in high-profile short targets such as Herbalife, Tesla, and Netflix. At the end of…