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No One Is More Disappointed In Larry Robbins Than Larry Robbins: Larry Robbins

2015 has been a bit of an annus f*cking horribilis for the hedge fund manager but it's not over yet.
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Twenty-fifteen has been a pretty tough year for hedge fund manager Larry Robbins. First, he told investors in March, a giant tuna tried to kill him and his family. Then, he said he strongly suspects, the luxury Caribbean fishing boat company he chartered for that fateful trip screwed him out of an iPhone 5. On top of that, the markets have been beating his Glenview Capital Management with a lead pipe in a back alley where no one can hear it scream. Robbins brought his clients up to speed on the last matter yesterday, telling them he has only himself to blame.

In a candid letter to investors, hedge fund manager Larry Robbins apologized for a year-to-date loss in his flagship fund of more than 20 percent through Monday's close, writing that "I've failed to protect your capital, and mine…despite a flat market." Robbins, who is known for his at-times wildly successful calls in the health-care sector at Glenview Capital Management, wrote that he continues to believe his company's health-care investments are lower risk and of higher potential than the broad market. Still, he said, the gyrations of August, which he regarded as "rotational" rather than "systemic," and his misperception that Glenview's health-care stocks at the time were "a rock-bed of strength," look arrogant in retrospect.

But god damn it, he didn't survive a tuna attack and an iPhone pilfering to deliver subpar returns to his investors. If everyone will just calm the heck down, Robbins can make this right.

Another key factor: questions about the accounting and operational practices of "one or more high-profile consolidators," a possible reference to Valeant, which faced a 35 percent plunge in the market last week amid concerns about its specialty pharmacy business. "While there is merit to each of these concerns," Robbins wrote, "in aggregate we remain highly confident that these are transitory stock price factors that will self-correct because the underlying profit stability and growth, capital allocation, valuation and fundamental outlook all support meaningful equity price appreciation for the coming year and years."

You have his word, and the word of that tuna's family who Robbins presumably murdered in retribution.

Larry Robbins market mea culpa: 'I've failed' [CNBC]

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