While others are getting crushed while the stock crash wipes out much of their small gains this year (or adds to their losses), hedge fund managers John Thaler and Chase Coleman are performing well.They’re up about as much as Paulson’s Advantage funds are down this year. (But of course, Paulson’s fund is more than 3 times their size.)
Thaler’s JAT Capital was up 32.5% through the end of July and Coleman’s tech-oriented fund, where short positions were delivering much of the gains, was up about 30%.
Both are tech-based long/short equity funds.
Thaler was a star at Chris Shumway’s fund before it closed in 2010. He left Shumway in 2007 to found JAT Capital. It currently has about $1 billion in assets under management. He also recently got a subpoena in the insider trading-gate (expert network) probe.
But 2011 hasn’t been a totally winning year for the tech manager – he was a big investor in Longtop Financial, a Chinese stock disaster. (Thaler has been investing in Chinese companies too, by the way.) And he’s lost money since June, when he was up 34.5% YTD. His fund has about $6 billion in assets under management.