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Short Bets Cut into Gains at Glenview, Other Firms
Larry Robbins’s New York–based firm, along with several other well-known long-short equity firms, would have fared better last year if not for the short side of their portfolios.
Glenview Capital Management’s Opportunity Fund and its offshore counterpart posted a gargantuan 18 percent gain on their long positions in the fourth quarter alone, according to the firm’s fourth-quarter letter to clients, obtained by Alpha. This compares with just a 4.9 percent increase in the S&P 500, including dividends reinvested. But
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