Remember how stock-picking is dead and it’s all about macro, the U.S. dollar, the Australian dollar, etc. these days?
Well now John Meriwether, of the infamous and failed Long Term Capital Management, has just launched his third hedge fund in recent history.
He’s managed to raise money from investors despite his last two spectacular failures (LTCM and JWM Partners which lost 44% during the crisis). Admittedly this makes the rest of us who haven’t been given hundreds of millions to manage look pretty stupid.
But get what his new investment strategy is — He’s switched from relative value arbitrage… to surprise, surprise… global macro investing according to FinAlternatives. The latest hot space.
Short this man, it’s worked twice already. It’s time to go stock picking.
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