Paul Singer : The Doomsday Investor
Anyone see this ?
https://www.newyorker.com/magazine/2018/08/27/pau…
Good read in my opinion. Funny how they tried to paint bush so sympathetic and as if he didn’t deserve what he got etc (I guess that’s the NewYorker for ya) . Thoughts on Elliot and his strategy? I think we need more hedge funds doin work like him. Props to Cohn as well. Met him once without knowing who he was when he was with Mr. Singer. Seemed very intelligent and just like described, Mr. Singer’s “protege”.
interesting artcle - never realized elliott was THAT powerful.
interesting read, much more in-depth than anything else put out about elliott/singer so far. the part that really stuck out was only losing money in 2 out of 41 years they've been in business - a true hedge fund. interesting how ppl paint "activism" with one brush but their strategy is night and day compared to a firm like valueact's
Fantastic read -- thank you for sharing. Theres such a impact that these HFs make. Felt that there should be less profit-seeking out of vulnerable countries. The situation with Peru seemed to be a bad case, where the citizens were suffering because Singer wanted to get full principle back. Not sure of how large of an impact this had on Peru's social services but I'm sure it was impacted.
Story about Argentina is amazing, man took a navy ship down for his money! Again, there is a moral component to this that makes me uneasy about loving the idea of activist investors. The part of hiring top notch investigators to get into the personal lives of these CEOs is damaging and ruthless! However, they did a good job of exposing the personal life / country funds misuse for the Congos. What makes you say we need more of these investors? Sure some CEOs are bad at allocating capital efficiently or have excess corporate greed, but for a company like this which is heavy on R&D (I assume), aren't they destroying potential value to be created/scientific research?
Where did you see he spent $48M? I thought the cost basis is unknown to the public…?
Savage. I remember following this years ago.
I have always wondered what sorts of legal costs they had to incur over the 15 year period to produce this return.
it'll be interesting to see what kind of profit flows through later this year, one of our fund of funds has a big stake in elliot, but yeah good for him for winning, I wonder though at what point do you ask "is this worth it?"
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