Remember Matt Feshbach? He was best known as one of the short sellers of the 1980s, who was ultimately dealt some big blows by bull markets. His short funds were all closed by the early 1990s. Well, Matt is back. Now, he's a long, and doing quite well. MLF Partners, the activist hedge fund he started in 2001, returned 29 percent after fees last year. Since inception, it has generated returns of more than 360 percent. That thoroughly trounces the S&P 500. Feshbach doesn't buy into the super-confrontational approach of other activist hedge funds. Rather he seeks partnerships with executives who act like owners.

For more:
- here's a MarketWatch article