Taking a hands-on approach
While activism has proved a successful investment strategy for many hedge funds, the 125 activist funds willing to speak their mind are not all doing so to the detriment of corporations' managers
Activist hedge fund managers may feel they face a losing battle in image relations. Mutual funds advocating change in firms are 'white knights' fighting for unit holders, while their hedge funds are short-term, profiteering "locusts".
Not so, says Phil Goldstein, head of US activist Bulldog Investors, as some agitating produces mutually beneficial outcomes.
Goldstein cites the example of a $330m, 90-year old Pennsylvanian firm, Blaire Corp.
BLAIRE STITCH PROJECT
Blaire, which sells apparel to the
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