Empirical Hedge Fund Soars 65%

Jan 12 2010 | 1:29am ET

Despite a mid-year rough patch, Empirical Finance finished its first full year of operation with an impressive 65.56% return.

Empirical, founded by former Marine Wesley Gray, posted only three down months in 2009. In three other months, Empirical Search Strategies enjoyed double-digit returns, helping it easily overcome its rough start: The fund was founded in September 2008, and dropped 23.52% in its first four months.

“The market left many $100 bills lying on the ground in late 2008 and early 2009, and we at ESS began picking them up with gusto,” managing member Andy Kern wrote it Empirical’s year-end letter to investors. “Fortunately, there were enough opportunities to allow us to be very discerning.”

Empirical also dabbled for the first time in shareholder activism last year, “a step that proved very profitable.”


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note