Deals
Hedge Funds' Lost Alpha Sends $750 Million Fund as Far as Seoul
- Chalkstream’s Tsai sees opportunity in cheap, ignored market
- It’s like the U.S. for hedge funds in late 1980s, Tsai says
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As many hedge funds suffer from a prolonged bout of weak returns, one New York money manager says he’s found an antidote on the other side of the world.
For Andrew Tsai, chief investment officer of the $750 million Chalkstream Capital Group, the answer is 6,800 miles (10,900 kilometers) away in South Korea. With the cheapest stocks in major Asian markets, a legion of day traders whipping prices around, and fewer sophisticated institutional investors to take advantage, it’s like returning to the golden era for generating alpha, or benchmark-beating performance, he says.