What we found odd is that despite having some of the year’s best performing stocks in his top 5 holdings…

… the fund – which made 86% in 1990 thanks to successful bets against Japanese markets, and 45% in 1992 when Bacon, like Soros, profited from the collapse of the European Exchange Rate Mechanism – suffered from poor performance both in 2019 and in recent years, and saw its AUM drop to $8.9 billion, the lowest level in years following consistent client redemptions.



Read more…