PointState Capital

May 27, 2015  

Zachary Schreiber, founder of PointState Capital, rarely emerges from the hedge fund shadows. But Schreiber made a splash at New York’s Sohn Investment Conference in May 2014 when he urged hedge fund managers in the audience to short oil and energy, stating, “If you’re long, I’m sorry for you.” Schreiber’s own hedge fund firm, New York-based PointState Capital, was shorting West Texas Intermediate crude oil, often used as a benchmark in oil pricing, at the time. The price of oil fell 50 percent over the next six months, leading to a $1 billion win for PointState. That, combined with timely bets on health-care stocks, led to 27 percent gains for the year. Schreiber, 42, qualified for Alpha’s 2015 Rich List as a result, pocketing $250 million. He was the 17th highest earning hedge fund manager of 2014…

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