> The most likely explanation for the success Mostly likely based on what grounds? Rentech was very profitable for decades before they ever started their publi

> The most likely explanation for the success Mostly likely based on what grounds? Rentech was very profitable for decades before they ever started their public funds. > Nobody knows how Rentech makes money There's nothing extraordinarily special about Rentech's returns, they just employ short-term stat arb type strategies that require relatively little capital to execute, so if you express their returns as a percentage of invested capital you get an eye-popping number. But it's not comparable to the returns that a traditional buy-and-hold fund makes (in particular because those returns don't compound). There are plenty of other quant shops and prop trading firms that would make huge (>Rentech) annual returns if they attempted to phrase their earnings in those terms, but they typically don't, because if you don't need a lot of capital then you don't need to raise money from the clients and outside investors (can just trade the partners' money) and you don't need to brag about your returns in public.