Coinbase(US:COIN) Sou Hu Cai Jing·2025-10-17 02:17Core Insights - The well-known private equity manager Wu Yuefeng's fund, Jiayue Yuefeng Investment Genesis, is nearing breakeven with a latest net value of 0.9854, recovering from a low of 0.3850 earlier this year [2][3][12] - The fund has achieved a year-to-date return of over 60%, although it remains at the bottom of the private equity rankings [2][12] - The fund's performance has seen a remarkable recovery, with a 156% increase since its lowest point in March [2][3] Performance Summary - As of October 10, 2025, the fund's net value is 0.9854, with a year-to-date return of 60.72% [2] - The fund's cumulative return since inception is 1.46%, with a historical maximum drawdown of 75.98% [2][11] - The fund's performance has fluctuated significantly, with a notable drop to 0.3850 in March 2025, followed by a recovery phase [3][4] Investment Strategy - Wu Yuefeng's investment strategy has involved high-risk trading, including shorting stocks like Nvidia and attempting to time the market with various sectors, which led to significant losses in early 2024 [3][4][5] - The fund's recovery has been attributed to a strategic pivot towards investing in Coinbase, which has shown strong performance in the cryptocurrency market [6][8][10] - The fund's net value has closely mirrored Coinbase's performance, indicating a successful alignment with high-growth assets [8][10] Market Context - The private equity landscape has been challenging, with Wu Yuefeng's fund experiencing extreme volatility and investor frustration due to prior poor performance [5][12] - The recent recovery highlights the potential for significant rebounds in private equity investments, particularly when aligned with trending sectors like technology and cryptocurrency [6][10]