Harvard Business Review

OCTOBER 27, 2014

In 2012 it was $1.9 After using borrowed money in the 1980s and 1990s, then opening up a hedge fund in 2004, he has since 2011 basically just been managing his own money. His response: “While I think using 13Fs to track hedge fund stock-pickers works great, in my mind it works less so for the activist guys.” In 2009 it was $1.3

Hedge 8

Hedge Venture Capitalist Letter Reputation 8

Harvard Business Review

SEPTEMBER 20, 2017

CEOs live in fear of activist hedge funds, and politicians worry about their effects on workers. Optimists point out measurable progress, including the percentage of companies listed on the Tokyo Stock Exchange level 1 with at least two independent board directors, which has increased from 17% in 2012 to 88% in 2016. In the U.S.,

ROE 8

ROE Construction Hedge Policies 8

Harvard Business Review

MAY 30, 2013

That''s up from 69% in 2012 and 2011. What''s more, the asset management industry — in particular the alternative-asset subset of hedge funds and private equity — has exported many of its pay practices into the corporate sector. What shareholders have been saying, in overwhelming numbers, is yes!

Hedge 8

Hedge Asset Management Incentives Outsourcing 8

Harvard Business Review

MAY 23, 2012

That discord in 2010 and 2011 contributed to the chief investment office's losing trades in 2012, the current and former bankers said. Drew had presided over devolved into shouting matches between her deputies in New York and London, the traders said. In any case, it should be clear that you don't want to just let the loudest voices win.

Management 11

Management Risk Management Competitive Intelligence Hedge 11

Harvard Business Review

JULY 11, 2014

ethnically Asian college graduates’ unemployment rate in 2012 was 11.9%, higher than blacks’, whites’, or Hispanics’. Jim,” as he is known to all, not only did pioneering work in mathematics; he also founded Renaissance Technologies, a hedge fund that relied on scientists to make predictions and trade in global markets.

Disruptive Innovation 8

Disruptive Innovation Hedge Brand Simon 8

Harvard Business Review

JULY 12, 2016

Ask someone to name the demands that activist hedge funds make of companies and they’ll likely list corporate governance issues like board changes and executive compensation, or perhaps some form of restructuring. Paul Garbett for HBR.

Proposal 8

Proposal Short-term Advertising Hedge 8

Harvard Business Review

JULY 22, 2016

Starbucks invested in and partnered with Square in 2012 to bring mobile payment systems into its stores using Square’s Wallet app. However, this may have been a hedging strategy as Starbucks built up its own digital capability, including a popular app and payment system.

Real Estate 8

Real Estate Business Model Incubator Short-term 8

Harvard Business Review

JANUARY 21, 2014

ValueAct Capital, a San Francisco hedge-fund with more than $11 billion under management had made a habit of investing in a limited number of companies that appeared undervalued or not fully understood by investors—and it now wanted into not only Motorola’s stock but also its boardroom. Singer came on the board in October 2012.

Hostile Takeover 8

Hostile Takeover Chief Financial Officer Due Diligence Charan 8

Harvard Business Review

DECEMBER 17, 2013

In fact, read Nate Silver’s 2012 book, The Signal and the Noise : Why Most Predictions Fail – but Some Don’t. Of course, the wisest among us will always hedge our forecasts with qualifiers such as “will likely” or “is apt to.”

Groupthink 9

Groupthink Emotional Intelligence Learning-by-Doing Hedge 9

Harvard Business Review

JUNE 26, 2014

Argentina lost big to a group of American “vulture” hedge funds in court last week, when the Supreme Court declined to reconsider an appeals court decision that the funds had the right to demand that the country make good on a bunch of old bonds they owned even though it long ago renegotiated the terms of that debt with most creditors.

Bond 8

Bond Long-term Short-term Finance 8

Harvard Business Review

JANUARY 21, 2014

I first met Halfteck at a conference late in 2012, and got him to send me a link to one of his company’s games last spring so I could play it and have my performance assessed. Maybe Halfteck would have gotten that hedge fund job, and never started a company. Then I hemmed and I hawed, and hawed and hemmed.

Hedge 10

Hedge Efficiency Information Technology Bottom-up 10

Harvard Business Review

APRIL 3, 2014

While the rest of the stock market world was still operating in terms of minutes and seconds, the HFTers (led by two Chicago-based firms, hedge-fund giant Citadel and upstart GETCO, now called KCG ) found a whole new world of profit in the milliseconds and microseconds between when orders were placed and filled. But I haven’t.

Long-term 8

Long-term Open-book Marketing Hedge 8

Harvard Business Review

MAY 31, 2012

A future compensation action would reduce 2012 variable benefits (bonus or equity awards) in absolute terms (or through a much slower rate of increase). Some news stories say Dimon generally approved the specific strategy at issue here and perhaps the broader risk-taking by this risk management office (beyond more cautious hedging of risk).

CIO 8

CIO Committee Risk Management Banking 8

Harvard Business Review

JANUARY 30, 2014

2012) to $385 (last April) — a difference of almost $300 billion in market capitalization — and back up to $555 before this latest earnings report. This kind of sharp price movement on seemingly modest news is not a new or isolated occurrence for Apple. Over the past 18 months the company’s stock price has careened from $705 (in Sept.

Price 8

Price Disruptive Innovation Uncertainty Marketing 8

Harvard Business Review

MAY 14, 2015

million in 2012, with the proportion of these totals derived from gains from stock-based compensation ranging from 37% in 2006 to 77% in 2010. Wall Street investment banks and hedge fund activists, some of whom began targeting McDonald’s a decade ago , also gain from the temporary boosts that buybacks produce.

Price 8

Price Franchising Short-term CFO 8

Harvard Business Review

NOVEMBER 30, 2016

During July 2007, two of Bear Stearns’ large hedge funds were failing. We measure the golfing habits of a subset of CEOs of S&P 1500 firms from 2008 to 2012. A year before Bear Stearns failed during the financial crisis, there were signs that the Wall Street firm was in trouble. What was CEO James Cayne doing at the time?

CEO 8

CEO Incentives Sports Hedge 8

Harvard Business Review

JANUARY 23, 2012

These moves require limited investment while providing critical hedges against unexpected changes in the marketplace. RIM has made a shoot-for-the-moon bet on a new operating system to be released near the end of 2012, but in the interim it might have brought out simple, rugged tablets tailored to corporate customers.

Strategy 15

Strategy CEO Strategic Planning Consensus 15

Harvard Business Review

JANUARY 14, 2014

The hedge fund founded and run by billionaire Paul Singer just announced that it now owns 6.2% In fact, all indications are that Juniper’s management already agrees that it should focus and cut costs (it tried to sell its security business in 2012 , and announced a round of layoffs last fall ); Singer just wants it to move faster.

Hedge 8

Hedge Chief Technology Officer Maturity IPO 8

Harvard Business Review

NOVEMBER 4, 2016

In the other version of the question, they were asked to choose between Clinton, Trump, and two other minor-party candidates: James Hedges (nominee of the Prohibition Party) and Monica Moorehead (nominee of the Workers World Party). In one version they were asked to choose between Clinton, Trump, Johnson, and Stein. of the vote combined.

Hedge 8

Hedge Survey Politics System 8

Harvard Business Review

AUGUST 11, 2015

But that will not in any way deter hedge-fund activists from demanding that companies do stock buybacks so that they can time their stock sales to take advantage of short-term, buyback-induced, stock-price boosts. It has spent almost $90 billion on buybacks and almost $33 billion on dividends from 2012 through the third quarter of 2015.

Proposal 8

Proposal Hedge Safe Harbor Short-term 8

Harvard Business Review

JANUARY 17, 2012

9, 2012) in about four years, which must have entailed one helluva profit-improvement plan. This is a neighborhood shared with hedge-fund managers and investment bankers, not the types most of us think of as "running a business," Romney's self-described leading credential for higher office. where Bain Capital invested $6.4

Due Diligence 13

Due Diligence Incentives Hedge Collins 13

Harvard Business Review

AUGUST 28, 2014

While hedge fund managers and the like are often seen as representatives of capital, in fact they ought to be considered high-end talent: their investor-customers are in fact the representatives of capital. So in the modern economy, capital has the Democratic Party as its friend and high-end talent has the Republican Party as its new BFF.

CIO 9

CIO Hedge CEO Policies 9