Hedge fund manager John Hemptoon offers practical lesson in assessing exotic risks.
[credit provider=”Getty Images Entertainment/ Stephen Lovekin/Staff”] Blogger/hedge funder John Hempton, who runs Bronte Capital, has just published a long piece about visiting an Herbalife “Nutrition Club” in Queens, New York. Hempton, who has called Herbalife “scumbags,” disagrees with Bill Ackman’s Herbalife short case and is betting against the Pershing Square Capital […]
I visited a Herbalife nutrition club in Queens. There is plenty wrong with this company – but this is not a post about the things that are wrong with the company (most of those I will leave for other people to think about). This is simply a post about what […]
I am wrong often enough to hurt—but rarely this fast. Richemont just pre-announced a big sales increase. I expected at best low single-digit sales increases and the company to guide down. I blogged about it only on Friday. Richemont was a modest sized short position and I was trading it for what I […]
We have been short Sears Holdings, publicly, albeit in small quantity. Being summer in Australia I did not even look at the market for the last couple of days – but got into work for some congratulatory emails as Sears stock is off very hard on an announcement of truly […]
Bain just agreed to buy China Fire and Security – a Chinese reverse merger stock. There are rumours the company is another Chinese RTO fraud – and its accounts are very strange.
I received an email from a senior guy at a big name hedge fund. They were long Longtop Financial. Longtop is a Chinese financial software company that came public through an IPO (led by Goldman Sachs no less) that has been the subject of a few posts on this blog […]
[credit provider=”AP Photo/Dima Gavrysh”] Steve Madden – the designer of the ridiculous high-heeled shoes beloved by teenage tarts – gives me nightmares.And every time I go to my office in Bondi Junction (Sydney, Australia) I pass – at the entry foyer – a far-flung outpost of Steve Madden Shoes – […]
I am on a trip to the United States to raise money for my funds management business. Its like an endless series of first dates. If things go well you get a second date. If things go poorly you get jilted – and usually you are not told why you […]
I have a lot of readers who ask me about the Australian bubble and when it will burst. I am not the person to ask – I have been wrong for ages – and (foolishly) have had much of my asset base either offshore or related to offshore – whereas […]