'Frustrating and humbling': Founder of hedge fund Folger Hill tells clients his firm has fallen shor

Folger Hill Asset Management's flagship fund returned 2.65% last year compared to a 21.8% gain in the S&P 500. "The growing pains associated with building Folger Hill over the last three years have been frustrating and humbling," founder Sol Kumin wrote in a client letter. The firm now has about $930 million in assets, bringing the firm back around to where it was in 2016. Folger Hill Asset Management, the hedge fund started by billionaire Steve Cohen's former chief operating officer...