Sunday, 19 April 2015
Last updated 19 hours 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…