Harvard Business Review

JANUARY 16, 2018

On January 6, 2017, JANA Partners , a New York–based activist hedge fund, and the California State Teachers’ Retirement System (CalSTRS) sent a letter to Apple’s board of directors that may change the future of activist investing. What was surprising, however, was the unlikely partnership between JANA and CalSTRS.

Hedge 9

Hedge Long-term Short-term Letter 9

Harvard Business Review

AUGUST 12, 2013

Everybody has been piling on to hedge fund manager Bill Ackman lately. Or at least the market''s. Last week Ackman wrote (and leaked) pair of letters in which he pushed for quicker action in finding a permanent replacement for Ullman and demanded the resignation of board chairman Tom Engibous. I''m not joining in.

Hedge 8

Hedge Short-term Long-term Finance 8

Harvard Business Review

OCTOBER 16, 2014

9, armed with about 1% of Apple’s outstanding stock, the hedge-fund activist published an open letter to Apple CEO Tim Cook, urging him to accelerate the company’s stock repurchases by making a tender offer. Carl Icahn is at it again. trillion on buybacks (51% of net income) and another $2.3 trillion on dividends (35% of net income).

Safe Harbor 9

Safe Harbor Hedge EPS Price 9

Harvard Business Review

OCTOBER 27, 2014

I do have a 15-year-old who could not in a million years be bothered to send Apple’s Tim Cook a letter urging him to “meaningfully accelerate and increase the magnitude of share repurchases.” He is no Jim Simons , using his mathematical genius to outsmart the market in (to an outsider) incomprehensible ways. Wait a while.

Hedge 8

Hedge Venture Capitalist Letter Reputation 8

Harvard Business Review

SEPTEMBER 21, 2018

Developed during World War II, CARVER (then one letter shorter and known as CARVE) was originally used by analysts to determine where bomber pilots could most effectively drop their munitions on enemy targets. To consider another example, say a hedge fund is looking to acquire a tech company that claims to have a leading-edge technology.

Tools 11

Tools Risk Management Budgeting SWOT 11

Harvard Business Review

JUNE 3, 2011

There's a beguiling little moment in the financial-crisis documentary Inside Job where hedge fund billionaire George Soros describes the principles of oil tanker design. Financial markets are like that, Soros goes on. From the same letter: [N]o company operates in a vacuum. where he is CEO.

Banking 14

Banking Crisis Letter Hedge 14

Harvard Business Review

MAY 9, 2016

Hedge fund activist Bill Ackman posed that question recently in his fund’s annual letter to investors. Unlike high-profile activist hedge funds, which attempt to outperform the market, the primary goal of passive investors is to deliver returns that match a market index. laura schneider FOR HBR.

Hedge 8

Hedge Proposal Policies Influence 8