Steamboat Capital Explains Why Shorting Has Gotten So Dangerous

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Michelle deBoer-Jones
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Steamboat Capital was down 6.93% net for the fourth quarter, bringing its year-to-date return to 7.3%. The S&P 500 was up 12.15%, while the Russell 2000 gained 31.37%, and the Credit Suisse Hedge Fund Index was up 6.38% for the fourth quarter. Q4 2020 hedge fund letters, conferences and more In his fourth-quarter letter to investors, which was reviewed by ValueWalk, Parsa Kiai said the fund’s return was negative because “nearly-unfathomable losses” in its short portfolio more than offset the “respectable gains” on the long side. Short positions detracted 38.42%, while longs added 30.3%. Three phases of 2020 Kiai separates…

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Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.