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.
For more details, go to Bloomberg Businessweek >
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