It’s only surprising that Ping Jiang’s hedge fund, Ping Capital, is up an astounding 103% this year for one reason, but we’re surprised for two reasons.
The real reason is that after leaving SAC Capital to launch his own fund, Jiang was down 34.26% in his first year, 2008. And then he was up a major 192.73% in 2009.
And this year, 2010, when it has been a tough year for many hedge funds and hedge fund managers (who were retiring in droves), Ping’s Exceptional Value Fund is up 103.45% – the best returns we’ve heard of yet.
He’s only managing $154.9 million in the portfolio, which some argue makes managing money easier, but his is a global macro fund, and many of his peers in global macro are are the ones really struggling. (We don’t know how he did it, but the fund invests in China, Latin America, and other emerging markets, according to Absolute Return.)
So it might not technically be as surprising that these amazing returns are coming from the guy who allegedly sexually assaulted his underling through the acts described as following: forced oral sodomy, restraint by ropes followed by forced introduction of certain foreign objects into the rectum, restraint by ropes and forced introduction of a flow of urination into the mouth, forced make-up applications, demands that the underling take female hormones, forced oral sex… Yes the list goes on.
But it is.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.