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World’s Top Hedge Fund Soars 275% With Bets on China Schools

  • Singapore’s QQQ Capital’s wagers on Tal Education, GSX pay off
  • Recent slump by school stocks shows risk of concentrated bets
Qian Yongqiang in Singapore on Oct. 30. He says his edge is entrepreneurial experience from running companies and that every business QQQ bets on represents thousands of hours of research.

Qian Yongqiang in Singapore on Oct. 30. He says his edge is entrepreneurial experience from running companies and that every business QQQ bets on represents thousands of hours of research.

Photographer: Wei Leng Tay/Bloomberg
Updated on

Long before he ran the world’s best-performing hedge fund, Qian Yongqiang chaired China’s biggest online dating service.

The Yale graduate would spend hours tracking down attractive users with suspicious profiles, sifting through accounts and deleting thousands of scammers to improve the site’s authenticity and ensure its success.