Hedge fund Glenview Capital Management just reported its third quarter portfolio. The firm is founded by Larry Robbins. According to its shareholder
, for the 10-year period ended on Dec. 31, 2010, Glenview Funds gained 301%, while the average hedge fund gained 71% and S&P500 gained just 15%. For the 5-year period ended in 2010, Glenview funds gained 122%, while S&P500 gained just 9% and the average hedge fund gained 18%.
Larry Robins was proud that his firm can “continue to generate attractive risk adjusted returns”. Although he “remains constructive on the investment environment over the medium term supported by attractive valuations, excessive corporate liquidity and a growing economy”, Robbins broadened his short positions in REIS, cruise lines and other travel related equities, companies that derive a significant portion of their revenue from government and healthcare. Continue Reading »