Hedgie Hovde Loses Opponent For Senate Nod

May 1 2012 | 3:07am ET

Hedge fund manager Eric Hovde's road to the Republican nomination for a U.S. Senate seat from Wisconsin just got marginally easier.

Kip Smith, a physical therapist, ended his longshot campaign to win the seat being vacated by Sen. Herb Kohl (D-Wisc.). Of course, Smith's exit—to come today at 10 a.m. in Rhinelander—still leaves Hovde with at least three opponents for the G.O.P. nod, all of whom have political experience, unlike the Hovde Capital Advisors and Hovde Private Equity Advisors founder.

Former Wisconsin governor and U.S. health and human services secretary Tommy Thompson, former U.S. Rep. Mark Neumann and Wisconsin Assembly Speaker Jeff Fitzgerald all remain in the race; a primary will decide the nominee on Aug. 14.

Hovde entered the race last month. His father was an official in the Ronald Reagan administration in the 1980s.

While Hovde doesn't have the political pedigree that his remaining opponents boast, he certainly won't run into Smith's main problem: fundraising. Smith said his decision to exit the race was based "mostly on the difficulty in raising the funds necessary to continue."


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.