Even the mightiest short seller on Wall Street was no match for the bull market of 2013.
Jim Chanos's Kynikos Opportunity Fund fell 13.6% net of fees last year, according to a report in The Wall Street Journal late Friday. That, according to the paper, represented the fund's largest decline in at least a decade.
Chanos and other representatives of Kynikos Associates, which managed about $6 billion as of July, didn't immediately respond to requests for comment.
Kynikos is the largest short focused hedge fund firm. While Chanos is often public about his investment positions, performance information of his funds are difficult to obtain.
Chanos' losses were not in isolation as most short sellers suffered last year. And it's possible Kynikos has rebounded so far in 2014, when many stocks have declined in value. His funds also trade stocks both long and short.