(Bloomberg) Pelargos Capital BV, a Dutch hedge fund manager that’s prospered by snapping up battered stocks, is adding to its stake in Honda Motor Co. and is predicting that shares may double, joining other investors placing faith in a recovery for the besieged automaker.
“The market clearly hates Honda,” said Michael Kretschmer, chief investment officer of Pelargos, a manager of $237 million that was spun off from insurer Aegon NV. “If you assume in the long run they will go back to profitability, like they have in the past, you can easily double your money on Honda.”
