West Palm Beach (HedgeCo.net) \u2013\u00a0Several key leaders of investment manager Chieftain Capital Management\u00a0 will be\u00a0 parting\u00a0 ways, according to a story published in the Wall Street Journal.\u00a0 Personality conflicts appear to strike at the heart of the breakup.\u00a0 According to a letter sent from Chieftain’s management to its investors, differences amongst the firm’s founders, Glenn Greenberg and John Shapiro, as well as partners Tom Stern and Joshua Slocum necessitated the split.<\/p>\n
Mr. Greenberg, who made headlines two years ago for his spat with the management of cable provider Comcast Corp., plans to stay at the firm and rename it Brave Warrior Advisors.\u00a0 Meanwhile, Shapiro, Stern, and Slocum intend to launch a new firm on January 1, retaining the original Chieftain Capital Management name.\u00a0Chieftain\u00a0 found success over the past two decades by largely ignoring the\u00a0 “status quo” practices of Wall Street.\u00a0 Management shied away from excessive communication with clients, preferring secrecy over marketing exposure.\u00a0 Also, the firm showed a preference for investing in highly-concentrated positions, ignoring suggestions for diversification. <\/span><\/p>\n Focusing on a “value” strategy, the firm has averaged returns of 18% before fees.\u00a0 Sources suggest that this year’s returns are roughly in line with the broader market.<\/p>\n Alex Thompson<\/p>\n Contributing Editor for\u00a0HedgeCo.net<\/a> West Palm Beach (HedgeCo.net) \u2013\u00a0Several key leaders of investment manager Chieftain Capital Management\u00a0 will be\u00a0 parting\u00a0 ways, according to a story published in the Wall Street Journal.\u00a0 Personality conflicts appear to strike at the heart of the breakup.\u00a0 According to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-13094","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/13094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=13094"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/13094\/revisions"}],"predecessor-version":[{"id":13097,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/13094\/revisions\/13097"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=13094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=13094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=13094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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