Monday, 30 November 2015
Last updated 2 days ago
Feb 26 2010 | 1:35pm ET
He’s abandoned his Pirate ship, but Tom Hudson still has a taste for gold.
The Pirate Capital founder Tom Hudson has launched a new hedge fund, Doubloon Capital, and is fundraising for several new funds. The famed activist investor’s new firm will, like Pirate, focus on stressed and distressed companies, according to The Wall Street Journal. Doubloon will shy away from technology, telecommunications and “asbestos-tainted” companies, with investing in industrials, real-estate investment trusts, retailers and casino companies.
“While a rising tide lifts all ships, a falling tide can be treacherous for a ship in shallow water,” Doubloon writes in marketing documents. “Value investing is all about identifying intrinsically 'cheap' companies. The direction of the macro environment, the tide, often will determine the value realization for undervalued companies.”
Doubloon will charge 2% for management and 20% for performance.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…