An Uber Driver’s Investment Tip Confirmed Paul Britton’s Doubts on XIV
- Feb. 5’s haywire market cleared out ‘volatility tourists’
- ‘That’s very good news’ for professionals, Britton says
Photographer: Spencer Platt/Getty Images
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Paul Britton, founder of the $5.9 billion Capstone Investment Advisors, was on his way to his Manhattan office one day last fall when he received unexpected investment advice from his Uber driver.
It went like this: “‘There’s this unbelievable company, these guys just crushed it -- not sure whether it’s in biotech or a technology business, but they’re up 80 percent this year. It’s this company called XIV,’” Britton, 44, remembered the driver saying. Britton said he responded, “I’m like, ‘I’m sorry to have to tell you this, mate. That’s not a company.’”