Reported 28 days ago
Eric Mandelblatt, founder of Soroban Capital Partners, argues that the future of stock-picking hedge funds lies not in hedging but in long-only strategies, as institutional investors favor market-neutral multistrategy funds. Mandelblatt notes a growing demand for long-only funds, as evidenced by Soroban's successful $4.5 billion fund raise in less than a year. He anticipates that long-only investments will drive the firm's growth and focuses on defensive sectors like utilities and key tech suppliers like Taiwan Semiconductor Manufacturing. Despite acknowledging high stock prices and potential market correction, he emphasizes a strategic approach in selecting stocks.
Source: YAHOO