last year, we averaged that long it -- at glenview.e are slightly higher today as we enter the year. those things move around as we move through earnings season depending on the number of arbitrage positions. there is slightly more complicated risk management dialogue in that exposure. we are constructive on markets on 2014 and constructive on the opportunity to be good stock pickers. >> we are constructive having you with us. >> it's a pleasure. >> thank you both. inbloomberg markets named the top-performing headmounted or of 2013. glenview capital -- thank you for coming here on "market makers." ♪ >> live from bloomberg headquarters in new york, this is "market makers." >> welcome back. there has been a bombshell in the matthew martoma insider- trading case. he was kicked out of harvard law school in the late 1990s for faking his grades while applying for clark. he changed his name after that and eventually he went up at stanford business school. the judge in the case denied the defense request to keep the story out of the trial. we

the winner out of all of them, 84% gain last year, the man larry robbins, the fund glenview.e put his money and hospitals. once obamacare overcomes those legal hurdles, he knew that it meant eventually more people got insured in the u.s.. it meant eventually there would be more paying customers turning up at those hospitals. that is where he put his money. once i gain of 45% by october alone. this man saw the gains in equity markets. he had the conviction to go hard. it was in health care. he benefited from big bet on hospitals. >> tell me more about the man. there are some wonderful quotes in here about what it takes to get on in hedge funds. >> i think any hedge fund manager has to be two words, over smart. this man is over smart. he said he did not want anybody to "talk over my head pico a working-class -- over my head ad." -- over my he he doesn't subscribe to the investor activism. he cause it suggested his him. a little bit more classy. a man's performance last year. >> he doesn't hold any energy or any mining stocks and once to stick to those stocks that have cyclical

shifting away from retail to the winningest fund was glenview capital, posting an 84% again.u keenan is joining me from the newsroom with a little bit more from our market magazine's latest ranking. that played as particular row on that that's success. activismler version of and many college suggested his suggestiv call it ism. we're still waiting on final returns. robert s robbins -- robbins grew up -- it helped him that on the bet onocks -- help him the right stocks. >> i like that, managing the odds. who are some of the other managers that really managed the game well?, moore b to the s&p. -- beat the rest of the funds. they did not come in above the s&p. asset backed strategies came out on top and this is according to the bloomberg rating. heavily invested stocks did well. one of the worst performed strategies was macro, falling in average to .2% last year. of 2.2 %ing an average last year. it was a struggle for many of these funds. >> any surprises? you follow this sector closely. any names that stuck out to you because they were there or ones that should have been there

larry robbins of glenview capital. he bet on health care and hospitals. this was huge for him.s the long-short equity funds. timereally had a hard reading those central-bank tea leaves. >> they had a very hard year. their investors put pressure on to reduce the two and 20 down to one. >> or one and 15. >> yes. wasnd private equity another winning strategy. john paulson was a one-hit wonder. he bit -- he hit so big on subprime. he was the third-best performer in his recovery strategy why? -- recovery strategy. why? he bet on blackstone. two years ago, people were laughing at him. >> and if you were in gold, it is down. thee did talk about incredible salaries that bankers make and how they always argue that you have to pay people that are going after hedge funds. i wonder if people might start coming back to the bank, because at least you know you will get a guaranteed income. >> a job at a bank is a much more secure position. you'll get a big payout at a hedge fund. i'm going to show up and get a 17% payout. but if you do not perform at the end of that month, a secretary you've