Burbank’s Passport Suffers More Losses and Redemptions

May 15, 2017   Stephen Taub


The firm is betting heavily on Saudi Arabia and other nearby countries as its flagship macro fund continues to see outflows.

John Burbank III’s woes continue. The founder of Passport Capital reported another sharp loss in the first quarter for his firm’s Passport Global Fund. And although April was profitable, it barely cut into the fund’s decline for the year. Meanwhile …

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