Hedge Fund Picks at Sohn 2019 Mostly Flopped After Selloff
- Pinduoduo quadrupling makes WT Asset’s Wang clear standout
- Bullish India bank picks go sour for Flowering Tree, Tybourne
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Only a few winners have emerged among the hedge-fund managers and short-sellers who pitched their top trade ideas at last year’s Sohn Investment Conference in Hong Kong, after markets were rocked by the coronavirus outbreak.
WT Asset Management’s Wang Tongshu is the clear standout, with his pick of Chinese e-commerce platform Pinduoduo Inc. benefiting as the pandemic accelerated a global shift to online shopping. It was the opposite result for Flowering Tree Investment Management’s Rajesh Sachdeva and Tybourne Capital Management’s Eashwar Krishnan, whose bullish bets on Indian banks turned sour as bad loan provisions surged and earnings slumped.