The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Joe Feshbach Partners: 180 degree turn

Joe Feshbach was the archetypal short seller. With his two brothers, Kurt and Matt, Feshbach ran a $1 billion short-only hedge fund during the 1980s and 1990s. They were a force to be reckoned with, hunting down fraudsters and hounding them into bankruptcy. "There is nothing better and more fun than when you find a good fraud story and a good stock to short," reminisces Feshbach. "The laughs are much better on the short side than on the long side." But those were the days when there were just a few hundred long/short hedge funds running around $50 billion in money, and broker rebates on the short credit. And so Feshbach has done what was once the unthinkable, he's moved to the long side. In April this year he launched his long-only equity hedge fund, Joe Feshbach Partners, and has about $22 million in invested capital.

For Feshbach, the 180 degree turn to long only was the only option. "The market has been changing over the last 10 to 15 years, and that is coming to a head now," he says. "For a start, there is the issue of competition. When we sold stock short, it was almost an exclusive strategy.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree