Covid-19 caused chaos for investors in 2020 but these hedge funds made billions
The funds that did well in 2020 bet early on an acceleration to online as people lived and worked remotely then quickly shifted into a recovery trade betting on restaurants, hotels and travel
(Bloomberg)
Juliet Chung
, The Wall Street Journal
Managers who bet certain stocks would rise and others would fall had their best year in a decade. The biggest winners wagered that e-commerce and cloud computing would thrive while shopping centers and travel struggled
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For little-known hedge-fund manager Jim Davis, 2020 is a career-defining year.
The one-time analyst for famed hedge-fund manager Julian Robertson Jr. came into the year managing $675 million at his Woodson Capital Management. That ballooned to about $1.7 billion by the end of November after bets he made against bricks-and-mortar retailers and on e-commerce firms hit pay dirt. His returns soared more than 100% for the year through Oc