Patrick Wolff's Grandmaster Capital Up 8% In 2014; Aided By Carbo Cermaics Short

Hedge fund Grandmaster Capital ended 2014 with a 7.8% return after gaining 2.24% in Q4. The equity focused value hedge fund was founded by Patrick Wolff, who was previously known for being a top notch chess player.

Patrick Wolff reiterates China bear versus U.S bull case

In the annual letter Wolff said that 2014 was a mix of good and bad news saying that the last quarter had a lot of activity that influenced the portfolio. The fund has been known to have a bullish view of American economy and bearish view about the rest of the globe, particularly China. In the year end letter, Wolff reiterated his stance, now that his opinion on U.S economy is more consensus than contrarian....