As assets continue to flee his hedge fund, John Burbank III looks for solutions. In a July 31 letter to investors reviewed by ValueWalk, nearly 63% of Passport Global’s assets under management, $480 million, walked out the door in the quarter, Passport’s Q2 Letter reveals. Burbank is stoic as a pair of portfolio managers and the firm’s president leave the firm, making strategy adjustments and looking to unique investing opportunities, some of which might be driven by the cryptocurrency craze. [timeless] Passport’s Q2 Letter goes back to basics, strategy up 1.6% in second quarter Passport Global was up 1.6% in the…
As Assets Leave, Passport Capital Adjusts Strategy, Looks To Cryptocurrency Craze to Boost AMD
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.