Morgan Stanley analyst Ronan Carr looks at a backtest of an EEMEA Joel Greenblatt strategy in a recent report. Carr indicates that the strategy has produced 12.6% annualized long/short return over the last 5 years. Carr looks at both longs and shorts a brief excerpt on the topic with some charts (including specific stocks) below.
The ‘short’ screen has delivered consistent underperformance while the ‘long’ screen has begun outperforming in recent months following a 6-month period of underperformance.
Many of the most well-known hedge fund managers in the world engage in philanthropy, and in doing so, they often reveal their favorite hedge funds through a review of their foundation's public filings. Bill Ackman's Pershing Square Foundation invested in several hedge funds during the fiscal years that ended in September 2019 and September 2020.