John Burbank Bullish On Chinese Tech; Closes Yen Short

We updated our readers on John Burbank's performance in his hedge fund Passport Global, when the hedge fund took in a 4.2% gain in Q2 and is up 10% for the year. Passport Capital has $3 billion in assets under management whereas the Global fund manages $1.2 billion.

Passport gains when other hedge funds decline

Passport Capital's Global fund was among the handful of hedge funds that did not underperform in June—when most global markets lost ground, the fund was up 1.9% in June. The quarterly letter notes that the decline in emerging markets, metals and...