http://harpers.org/archive/2009/03/0082414
I was reading this article and they cover an interview between an "oil fixer" and a hedge fund.
This hedge fund has, according to the article, purchased oil refineries that they need to offload and also owns land and a shoe factory.
What sort of hedge fund would invest like that?
Thanks.
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A hedge fund that is so scared of the financial markets and securities blowing up, decides to invest it in obscure assets.
Or maybe the manager is bored.
investing in obscure assets could potentially produce returns far greater than that of the financial markets...this does not mean the manager is scared at all.
Do you have any suggestions of a fund that might do/did this sort of thing?
To me it sounds like a reporter who has mis-characterized what the investment is. I have only done one interview and literally everything they quoted me on was a misrepresentation of what I said. It wasn't like they put me in a bad light, but more like this where it is probably some family partnership and they're calling it a hedge fund. Don't trust what you read, there's a lot of misinformation out there.
Alright, thanks.
Would that sort of investing more closely mimic PE funds?
Alright, thanks.
I'm heading into refining as a chem E and I would like to work on these sorts of deals in the future. Trying to figure out as much as I can about them.
There are plenty of funds that do this type of investing. Most tend to be the special situations groups of big multi-strat funds. I know of one shop that's invested in foreclosed Ford plants that used to manufacture cars in the 80s but now has been non-operational and sits on tons and tons of unused steel. Fund acquired this plant with hopes of scrapping the metal and re-sell it once steel px goes back up.
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