Denali Investors, a value oriented hedge fund founded by H. Kevin Byun, had spectacular returns in 2013. Denali's fund returned 66% in last year, after adding a 12.7% profit in the last quarter, according to a letter to investors reviewed by ValueWalk. The fund has compounded a total return of +115% since its inception in 2007. Denali applies a value-oriented equity long/short strategy which it calls 'Buffett's 1950s' style'. The 4Q2013 letter notes that,
"Today, most people associate Buffett with a buy-and-hold-forever philosophy. What the popular view discounts is that Buffett began his career managing a hedge fund that was value-based and heavily involved in special situations. Basically falling into two categories,...
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