A recent help wanted ad posted by Chapman Capital's founder Robert Chapman sheds some light on this gentleman's methods and tactics. Yes, he's rude, abrasive and obnoxious but he's also fairly brilliant.
-CrankyHedgeFundMan
Activist Hedge Fund Research, Writers/Editors, & Traders
--------------------------------------------------------------------------------Reply to: mako@chapcap.comDate: 2006-12-16, 9:17AM EST *** ======================== CAREER TRACK POSITIONS ======================== Hedge Fund Investment Advisor (http://www.takeovers.com/; Login: defcon1; PW: defcon1) seeks highly motivated, Type-A employees for both full time and internship positions in research/analysis, equity/option/debt trading, accounting, and programming/website design. Both entry level (recent college graduate) and experienced (with another hedge fund or investment banking firm) positions are available. Compensation level is competitive both in salary and incentive bonus. Hours can be exceptionally long and intense, with some requiring 5:00 a.m. PST (8:00 a.m. EST/Wall Street) starting times, though the work day can conclude at 2:00 - 3:00 p.m. PST, allowing for opportunity to enjoy S. California afternoons.
*** Activist 13D Letter Writer/Editor: write original and edit/proofread activist 13D correspondences from Chapman Capital to Fortune 1000 CEOs and Boards of Directors. Writers/editors must have articulate and witty approach to written communication. Compensation level is ultra-competitive.
Hedge Fund Private Investigator: conduct both clandestine and covert intelligence operations to track movements of public company executives (e.g., Enron types) to gain deep intel of how their behavior and actions may be affecting the company's Wall Street performance. Qualifications include any applicable state license(s) to conduct electronic/manned surveillance, resume of successful case records, and comfort with rigorous travel itineraries. Compensation level is ultra-competitive.
***
Thursday, December 21, 2006
Wednesday, December 20, 2006
Hedge Fund Minimums
So let me get this straight! Liberal politicians love to play the class warfare game yet are obsessed with making sure that only the ultra wealthy are allowed to invest in hedge funds. Proposed new minimum investment rules that the SEC is proposing would prevent the common man from participating in literally thousands of investment funds.
Don't get me wrong - most hedge funds are nothing more than a not so fancy legal structure. Still, shouldn't people be able to invest as they see fit without big brother getting in the way.
On a slightly different note, those that say hedge funds should not be regulated because "who cares if rich people get screwed" do not hold the moral high ground either. This is equally vapid.
Does anyone have a cogent thought regarding hedge fund registration?
Don't get me wrong - most hedge funds are nothing more than a not so fancy legal structure. Still, shouldn't people be able to invest as they see fit without big brother getting in the way.
On a slightly different note, those that say hedge funds should not be regulated because "who cares if rich people get screwed" do not hold the moral high ground either. This is equally vapid.
Does anyone have a cogent thought regarding hedge fund registration?
DELL - Give Credit Where It's Due
Don Carty former CEO of American Airline is named CFO of Dell. Good for Dell! Most companies would have shied away from someone like Carty who resigned from AMR under a bit of a cloud regarding executive comp. After running AMR, being CFO of Dell should be a breeze.
Even though Carty has been on the board of Dell for years it is still impressive that they went with this battle scarred highly experienced man. Most firms would not have thought outside of the box and just hired a CFO from a high performing tech company who would bring little to the table.
Now Dell needs to sell some computers, answer their phones promptly and take back some share.
Even though Carty has been on the board of Dell for years it is still impressive that they went with this battle scarred highly experienced man. Most firms would not have thought outside of the box and just hired a CFO from a high performing tech company who would bring little to the table.
Now Dell needs to sell some computers, answer their phones promptly and take back some share.
The Financial Wizards of Thailand
Well done gentlemen! You've (the government in Thailand) now lost all credibility when it comes to your fiscal, monetary and all other things related to your economic policies. Within 24 hours of announcing restrictions on capital flows from foreign investors (their market was down roughly 19% at one point) the government reversed direction almost completely. The Thai market rallied about 11%. It's obviously still well off its levels from last week but even worse no one will believe anything these guys say or do in the future.
Did they really think that their policy announcement would work? Have these policies ever worked? What were they drinking or smoking? It must have been good sh*t! At least float the idea first to gauge the potential impact.
Did they really think that their policy announcement would work? Have these policies ever worked? What were they drinking or smoking? It must have been good sh*t! At least float the idea first to gauge the potential impact.
Tuesday, December 19, 2006
Private Equity
For what it's worth, we're only in the "first inning" of large highly visible companies going private. Many would think that the recent rise in large cap stocks would have taken the vig out of the game, but from where I sit I see some big name mega cap stocks that would make perfect buyout candidates. Q1 of 2007 will see the largest LBO in history. This isn't even going out on a limb.
It will be great to hear how the levering of corporate america is amoral, greedy and going to lead to ruin. Be still my bleeding heart. Call it financial engineering (people think that's an oxymoron) but companies saddled with some debt become very focused on what works.
If you're looking for lazy management teams look no farther than companies with no debt and copious amounts of cash that also pay no dividend to boot. Run for the hills from these unless you feel you can affect change.
It will be great to hear how the levering of corporate america is amoral, greedy and going to lead to ruin. Be still my bleeding heart. Call it financial engineering (people think that's an oxymoron) but companies saddled with some debt become very focused on what works.
If you're looking for lazy management teams look no farther than companies with no debt and copious amounts of cash that also pay no dividend to boot. Run for the hills from these unless you feel you can affect change.
Market Predictions
New idea, feel free to make it your own: require that when a strategist (currency, stock, market) is on television he must provide a copy of his tax return or most recent bank / brokerage statement. If this guy is so smart then he is certainly stinking rich? We should assume that his bank account is overflowing with cash. The more money he's made via his insanely prescient insights the more we'll all listen to him. Alas, this will never happen but it's a killer idea. Full disclosure!
His First Post
This is HedgeFundMan's first post. I really don't care what you think about the blog. I had some extra time on my hands and here is the result. I manage a traditional hedge fund. Nothing sexy - just an old fashioned stock fund. The purpose of the blog is not to dish out advice or stock picks - only hacks tell the world what stocks to buy. The guys and some gals that go on CNBC with stock picks are not the cream of the crop. Trust me - the "smart money" which does exist does not appear on television or in magazines. They are too busy doing their jobs to hand out stock picks or investment advice to people who are not their clients.
The purpose of the blog is to provide commentary on an industy that is often misunderstood. The media, industy wonks, and politicians seem to have little clue when it comes to talking about hedge funds. Hopefully, this blog will shed some light on the industry and, of course, will give me the opportunity to share my thoughts on the market, CNBC, the media, politics and whatever else is pissing me off.
The purpose of the blog is to provide commentary on an industy that is often misunderstood. The media, industy wonks, and politicians seem to have little clue when it comes to talking about hedge funds. Hopefully, this blog will shed some light on the industry and, of course, will give me the opportunity to share my thoughts on the market, CNBC, the media, politics and whatever else is pissing me off.
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