Thursday, November 20, 2008

Hedge Funds Leaving Stocks and Looking at....Baseball?

The title is misleading because the article is very dated but still interesting. The Lion Fund out of San Antonio finding value in minor league baseball. Before you throw it out as another fund manager doing dumb things with money, the Lion Fund is legitimate. I have met one of their key money managers and they have a very successful deep value track record. I need to figure out how it turned out. Thanks goes to Nathan for the article.

A San Antonio-based hedge fund's public solicitation of Indianapolis Indians stock is akin to a hostile takeover attempt, industry observers said.

While officials for The Lion Fund LP said they aren't looking to take majority control of the city's AAA baseball franchise, they're willing to pay a substantial premium over the Indians' last buyback offer of $9,200 per share, and even more for large blocks of stock.

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