Citadel Alum’s Anchor Bolt Saved by Short Book

The firm, founded by Robert Polak, is down for the year, but not nearly as much as it could be, thanks to savvy short bets.

A hedge fund headed by a Citadel alumnus is the latest example of a long-short manager whose long positions took a huge hit in the third quarter but still managed to post much greater gains from its short book.

Chicago-based Anchor Bolt Capital, headed by Robert Polak, told clients that in the third quarter the stocks in its short portfolio outperformed the longs by nearly three percentage points, while for the first three quarters the stocks it shorted outperformed the longs by more than six percentage points....

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