I've been harping about how ridiculous this CSX hedge fund story is and how it was conveniently marked at a May month end high of $69.06. I'm not saying that anyone in particular marked it there. I am saying it looks suspect. Today the stock closed -11.8% lower than that day of May 30th. What a difference a month makes...
"Me-Too" activist investing is a by-product of the leverage cycle. As cost of capital increases, and access to capital tightens, some of these concentrated "activist" funds will just go away.
KM
(chart courtesy of stockcharts.com)
"Me-Too" activist investing is a by-product of the leverage cycle. As cost of capital increases, and access to capital tightens, some of these concentrated "activist" funds will just go away.
KM
(chart courtesy of stockcharts.com)
