{"id":3545,"date":"2005-11-03T00:00:00","date_gmt":"2005-11-03T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-carlos-ay","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2005\/hedge-funds-carlos-ay.html","title":{"rendered":"Hedge Funds: Carlo’s Way"},"content":{"rendered":"

J. Carlo Cannell is giving me tips on cooking with a Crock-Pot, which he does in his San Francisco office. “I like to ram in a whole turkey, cook it all day, and then serve it with cranberry and some spicy mustards,” he says. Not exactly standard fare from a high-end hedge fund manager. But then again we\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2re talking about a guy who owns a van with think peace painted on it in graffiti-art style (check it out at his website, donkeynation.com) and who loves to swim the Alcatraz Invitational across San Fran\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s frigid, shark-infested bay. Carlo\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s writings are as colorful as his hobbies: He recently noted there are more hedge funds than Taco Bells in the U.S. (That\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s bad.) And he boasted that he “acquires information like a rodent foraging through trash.” (That\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s good.)<\/span><\/p>\n

Carlo\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s way may be wacky, but there is definitely something to it. His Tonga hedge fund has averaged a net 25.8% annual return since 1992. With $324 million under management, Tonga, which trawls in small stock waters, is hardly a hedge fund blue whale. (Overall, Carlo runs a total of $800 million.) But in part that\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s because Cannell doesn\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2t want it to be. Over the past five years Cannell has returned some $250 million to investors because he doesn\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2t think he can produce outsized returns if he has too much money to worry about. “We can\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2t add value buying Exxon or Procter & Gamble<\/a>,” he says. “We have a much better chance of finding value at a flea market in Texarkana than at Sotheby\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s.”<\/span><\/p>\n

Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

J. Carlo Cannell is giving me tips on cooking with a Crock-Pot, which he does in his San Francisco office. “I like to ram in a whole turkey, cook it all day, and then serve it with cranberry and some […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3545","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3545","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=3545"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3545\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}