Richard Ennis argues that portfolio construction has become almost primitive. “Institutions own a jumble of equity things — nearly countless, largely illiquid, and beyond their control.” ...

Jericho was up 20.2 percent in 2023 after losing 23 percent in 2022. Its two largest U.S.-listed longs accounted for more than 21 percent of assets at the end of the third quarter, according to its ...