As Burbank's Passport Capital Shuts Hedge Fund Industry Recovers – ValueWalk Premium
John Burbank, Passport Capital, GCC, Saudi Arabia, Macro investing, macro hedge funds, San Francisco-based, global investment firm, emerging markets, valuewalk

As Burbank's Passport Capital Shuts Hedge Fund Industry Recovers

Yesterday, it emerged that John Burbank’s Passport Capital, which rose to fame following its bets against subprime housing, is planning to shutter its flagship hedge fund after a string of losses.

According to a letter to investors, Burbank wrote in a letter to clients that “returns over the past two years are unacceptable and cause me to rethink how to manage money in this environment" as

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