FIN – Nearly a month after the U.S. presidential election, Avenue Capital Group’s Marc Lasry remains mystified that most of his colleagues didn’t join him in backing the winner.
While the majority of hedge fund managers backed President Barack Obama four years ago, most of them switched sides this year, including Third Point’s Dan Loeb, whose enthusiasm for the president in 2008 was matched by his antipathy for him this time around. But in spite of widespread financial backing from hedge funds for Obama’s rival, former Bain Capital chief Mitt Romney, the president won reelection rather comfortably.
