Hedge Fund Buys Buffett Lunch A Year After Losing 66%

shootinfoot tbi

The winner of the Warren Buffett charity lunch is Canadian money manager Salida Capital. They paid $1.68 million for a chance to eat some steak with the Oracle next year.

Typically, this would be a good branding event, but you have to wonder how smart it is, given that the company’s flagship fund lost over 2/3rds of its client money last year. This year it’s up like 80%, so in other words it outperforms big time either way. Still, many of its clients are way down, and now the company is advertising that it’s spent $1.6 million to have lunch with a guy whose investment strategy is totally the opposite to theirs.

Great branding move guys. Your customers will love you.

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