The famous short selling hedge fund, Kerrisdale Capital, is out with its Q3 letter.
Kerrisdale Partners LP achieved a quarterly return, net to investors, of 9.1% for the quarter ended September 30, 2012. The S&P 500 index returned 6.4% during that time.
Since inception, the fund has achieved a return, net to investors, of 742.3%. The S&P 500 index has returned 67.6% during that time.
They detail an extremely interesting story about shorting of a potential fraud in the letter:
Today, the China Medical Technologies, Inc. (PINK:CMEDQ) saga is over, and we can do an appropriate post-mortem. We established our initial short position in China Medical in...
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