[From The Archives] Century Partners Barron’s Interview — Part One

“The only way some who is running sizable amounts of capital can beat the market over a period of time is by being fully invested when it’s possible to make money and out of the market when it isn’t” -- James Harpel Managing Partner of Century Partners

Century Partners was, in many respects, one of the world’s most successful early hedge funds.

The fund began its life during 1967, back in the day where running $20 million in private capital was a big deal. Between 1967, when the fund opened its doors for investment, and June 1970, every $1 invested in the fund had grown to $2.60 -- a return of 160%. Over the same period, the Dow Jones Industrial Average...