NEW YORK (TheStreet) -- When it comes to world's great investors, everyone has heard of Carl Icahn, George Soros and even David Einhorn. But do you know who is the best performing investor in the world today?
It's Joseph Edelman, head of the biotech hedge fund Perceptive Advisors.
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Perceptive Advisors has returned an incredible 42% annualized since 1999. That means $10,000 invested in this hedge fund at its inception would now be worth $1.3 million dollars. By comparison, for the same period, $10,000 invested in the S&P 500 would be worth just $16,270 today.
Moreover, when the stock market was down big in 2002 and 2011, Perceptive made money. How did the fund do it? By specializing in the event-driven world of biotech.
Perceptive's Edelman is one of the most seasoned biotech investors on the planet. He employs analysts, rich with life science background's, educated at some of the world's best schools. They spend millions of dollars on research, and they implement that research by taking big positions in small cap biotech stocks. And these investments tend to have the potential to produce multiples of what they pay for them.
Biotech stocks move on change, such as new clinical trial data, FDA approval's, etc. And Perceptive is essentially a biotech "think tank" - experts in anticipating that change, analyzing prospective drugs and their path to market.