, Columnist
Belle Fits Private-Equity Playbook Perfectly
The company is crying out to be streamlined, plus it's sitting on a pile of cash.
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Private-equity investors aren't like you or me.
Should there be any doubt, take a look at footwear retailer Belle International Holdings Ltd., which despite a 21 percent share price gain this year has the dubious distinction of being the worst-performing stock on the Hang Seng Index since it joined the benchmark in 2010.