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

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.