Cornwall Capital: The Patient Fat Tail Approach

Cornwall Capital: The Patient Fat Tail Approach Before 2008, few in the financial world had heard of Charles Ledley and Jamie Mai’s Cornwall Capital. Then in 2008 and 2009, Cornwall shot to fame when the hedge fund’s managers turned a $15 million investment into $120 million by betting on the failure of the subprime mortgage market. The hedge fund returned a whopping 297.7 percent in 2007. Several years later, Charles Ledley and Jamie Mai were profiled in Michael Lewis’ book The Big Short. And last year, the duo became near household names when The Big Short the film opened in…