Steve Cohen alum up 22% YTD explains why you should ignore those old market adages

Prentice Capital Long/ Short Equity Fund was up 2.7% net for the third quarter. Year to date through the end of September, the fund is up 21.9% net. The S&P 500 was up 8.9% for the third quarter and 5.6% for the first nine months of the year. Q3 2020 hedge fund letters, conferences and more Prentice Capital was founded by Michael Zimmerman, formerly of SAC Capital and Omega Advisors. The fund focuses on “often-overlooked stocks” in the U.S. consumer sector. During the third quarter, the fund averaged 110% gross exposure and 5% net exposure. Prentice’s long-term gross exposure has…