WEST PALM BEACH, FL (HEDGECO.NET) – Jason Ader, a former high-profile analyst at Bear Stearns is launching his own hedge fund according to Reuter News Service. Mr. Ader founded the New York-basedHayground Cove Asset Management in March 2003, and is said to still have business affiliations with his former employer, according to informed sources, Bear Stearns brokerage is a lead investor inAder�s hedge fund. All of Ader�s staff were former analysts and traders of Bear Sterns, informed sources said. Ader commented, �I presented a business plan (to Bear Stearns) that really talked aboututilizing research in an exhaustive manner to pursue investment ideas�.
While few details were provided on Ader�s new fund, close sources said Ader�s celebrity status has helped him win over unnamed institutional investors, including pension plans and individual investors as well. Ader�s hedge fund would concentrate trading activities in consumer and real estate-related businesses, according to the statements. Ader said that strategies such as one-on-one conversations are important part of his research.� It’s really how you get an edge. It�s going out and kicking the tires and walking through shopping malls and talking to customers to see what they like.” Said Ader.
The 35-year-old celebrity analyst said he is confident the firm’s niche will serve it well. “That’s where I have a real research expertise,” Ader said. “My view is that you start a business and you build it around your strengths.” No further details were immediately provided about the new hedge fund, Hayground Cove Asset Management Company is based in New York, and further information about the Ader hedge fund should be sought through the firm.
Jason Ader is widely regarded as the top gaming and lodging authority on Wall Street. In addition to being ranked in Institutional Investor’s All-America Research Team for the past eight years, he has also been named as top-ranked gaming and lodging analyst for three consecutive years. Mr. Ader has also been distinguished in five yearly Wall Street Journal All-Star Analysts Surveys and was voted the #1 US Gaming and Lodging analyst in the prestigious Greenwich poll of buy-side analysts in 2000 and #1 for industry conferences, field trips, theme parks, and stock-picking in 2001, according to information obtained from Bear Stearns 2002-2003 North American Gaming Almanac CD.
Paul Oranika
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HedgeCo.Net
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