Street.Com- For many investors, 2007 proved a tough year. Some hedge funds, like the one run by Sowood Capital, went under, while countless funds underperformed the broader market. Even so, some hedge funds, notably Passport Capital, profited hugely. This San Francisco-based firm’s Passport Global Master Fund was up more than 200% in 2007, according to Bloomberg.
Founded by John Burbank in 2000, Passport has made huge bets on Reliance Capital, a non-banking financial company based in India, and profited from being short U.S. financials and the subprime-mortgage market since 2005.
Here at Stockpickr, we actively track Passport Capital’s holdings to see where the firm is placing its bets.
One of Passport’s main positions is Horsehead Holding ZINC, which has a forward price-to-earnings (P/E) ratio of 7.4 and a P/E-to-growth (PEG) ratio of 0.5. Horsehead, like the commodity it deals with, is down about 50% from its 52-week high of $26 back in September. However, any snapback rally in zinc prices could move Horsehead’s stock much higher.
