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October 21, 2005
Meet John Whittier, Wood River Founder
After breaking the story of legal troubles at the Wood River hedge fund, we now offer a look at the man behind the fund. The story shows how someone with access to wealth and limited money-management experience can enter the hedge-fund business with ease.
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...As far as i know the investors contend that Mr. Whittier previously told them that the firm would never take such a large position in a single stock. In marketing materials and meeting with investors, Mr. Whittier says that he typically keeps his bets on a given position to less than 2% of the fund's assets. . .
Posted by: Beale_J at October 29, 2005 07:56 AM
that comment cant be any further from truth john
was one of the best analyst on the street in mid
90's i was a trader for dlj and traded his names
which he was always right on target.His performance prior to enwv was remarkable if you do
any research.He has an incredible educational backround and is one of the most intelligent person I have ever met.He made a big mistake by
taking this position and once it started to fall
he tried to defend it instead of selling a major piece.For someone who is very rarely wrong when it comes to picking stocks he didnt know how to react.But to say that he was a kid with money with
no experience in investing couldnt be any further from the truth.I wouldnt be surprised to see enwv
to soar once the position in unwinded.I remember a stock he recommended to me in early 90's was dish i bought the stock it traded higher then dropped when the ceo chose not to accept deal for company.It went from 35 to 19 john told me satallite tv will work.The 2000 shrs i owned was worth over 1 million over the nxt 7 yrs.Maybe you should look a little further into a story before making such an obsurb comment that he wasnt qualified makes good headlines but if john wasnt qualified i would be hard pressed to find someone who is.
Posted by: mike at November 12, 2005 05:20 PM
Mike, I did in fact do research on John Whittier's stock recommendations at DLJ and did mention in the story that several of them were good calls, though it was hard to be bullish and wrong about tech stocks in the late '90s. However, there is a BIG difference between doing equity research at a brokerage and managing a long/short hedge fund. Before launching Wood River in 2003, John Whittier had managed a family office for a few years and had worked as an analyst at DLJ. While I don't doubt that this experience gave him a background in stock-picking, the sum total of his actual experience running a hedge fund before Wood River was nil, and that indeed made him a novice. As for his money, the story mentions Whittier's family wealth only to explain how he was able to raise capital to start a hedge fund.
Posted by: Justin Hibbard at November 22, 2005 02:43 PM