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It doubled its returns through two dividend payments and proceeds from the Gordmans initial public offering in 2010.
Meanwhile, it can boost its returns by short selling its unsecured debt and its equity.
In defense of its size, Mr. Singer says its returns have not suffered as it has grown.
First, even if we accepted the Treasury's accounting and treated it like just another private trader, its returns are abysmal.
Given that its returns are uncorrelated with the equity and bond markets, it should provide some support for your portfolio when other parts of it are falling.
Unlike index funds, actively managed ones aim to beat the market or a slice of it, such as the small-cap growth segment rather than match its returns.
Its returns?
Its returns to investors have disappointed.
But its returns look anemic.
Its returns on capital and its shares have slumped.
The firm does not trumpet its returns publicly.
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