Teton Capital, Stung By Short Exposure, Puts It On A “Leash”

When Austin, Texas-based Teton Capital Partners looks back at 2017 they bemoan short exposure. After delivering investors 52% returns in 2009, 2017 was “disappointing.” The $1.2 billion long / short fund only returned 9.3%, less than half that of the S&P 500, for instance. But when looking at this performance also consider the long / short ratio, which is currently tilted to the positive and would benefit from strong economic tailwinds, according to a letter to investors reviewed by ValueWalk. [klarman] Get ready for Trump to hit the economic gas pedal The current stock market rally, flying higher in the face…