Tim Geithner Is Hedging Against His Daughter's Shopping Addiction

tim geithner small hands pinch AP

Tim Geithner bought shares in cult yoga retailer Lululemon a few years ago as a hedge against all the yoga-wear his daughter bought from the company, his press aid told Bloomberg Businessweek.

Even though he invested less than $1,000 in Lululemon stock, it was a good hedge.

Since the company’s 2007 IPO, Lululemon can claim a 165% return, and this year, its stock is up 59%.

From Bloomberg Businessweek,

Geithner picked the company partly because of his now college-age daughter’s interest in yoga—and as a hedge against her frequent Lululemon purchases.

Fun fact: Lululemon makes bags that say: “Friends are more important than money.” And Whitney Tilson‘s hedge fund, T2, is shorting the company.

hoodieNot Geithner’s daughter, who loves Lululemon yoga-wear.

Photo: Lululemon

For more details, go to Bloomberg Businessweek >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.