Chris Hansen’s Valiant Capital Partners lost 2.9 percent in January, according to the hedge fund firm’s fourth-quarter letter to clients.
But it could have been a lot worse without steps the Tiger Grandcub had taken in his short book during the months leading up to the Reddit revolt — a frenzied buying of stock that was instigated by ordinary investors on the social media site and caused many shorted positions to soar in price.
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