I used to write a lot about the foreign listed hedge funds, and there was a lot of content in The Ivy Portfolio on the topic. They’re hard to invest in for US based investors (due to PFIC rules, I *think*, it’s murky), but they trade like closed end funds and often at a discount. Third Point hit a 50% discount to NAV back in 2009!
Now some of these funds have jumped on the reinsurance trend in the US, and below are a few hedge fund letters from Greenlight and Third Point…
Below is a (non-log grrr) Chart & download: