Scott Cunningham/Getty ImagesFor years, David Tepper, one of the greatest hedge fund managers ever, has been steadily returning the outside capital he manages at his Appaloosa LP to his investors. Tepper’s hedge fund firm has seen its assets fall from more than $20 billion to $13 billion today—a reduction that has nothing to do with trading losses or investor redemptions. Tepper has been one of the few bright lights in the hedge fund world over the past decade, a period in which the vast majority of richly compensated hedge fund managers and stars have dramatically underperformed the stock market. This underperformance has been especially pronounced among hedge fund managers who, like Tepper, do not rely on computer models and data-driven trading. He continued to score big returns in the years after the financial crisis, like in 2013, while most hedge fund managers struggled.

Source: Forbes May 23, 2019 14:25 UTC