Hayden Capital 2Q17 Letter: The 'Fintech' Approach To Data Science And Machine Learning

Hayden Capital letter for the second quarter ended June 30, 2017. Get the entire 4-part series on good management in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. In the second quarter of 2017, Hayden Capital gained 12.6% (net of fees). This brings our performance to 13.7% year-to-date. Meanwhile, the S&P 500 and MSCI World were up 3.1% and 4.7% over the same period, respectively. The largest contributor to this outperformance was our recent investment in Zooplus, which I describe in more detail below. Since inception, we have returned 11.0% annually, versus 9.1% for the S&P 500 and 6.3% for the MSCI World, while keeping 25% of the portfolio in cash. It's a pretty simple formula, although one that's largely ignored by most investors.