Daily Activist Investing May 4: Thanks Sohn, that is all
Activist fanboys, the Sohn Conference put the proverbial hurt on us, still catching up. Big disappointment all around, Ackman gave us the finger, but hey, it’s for a good cause so who the hell cares. More on the Sohn later at activiststocks.com. What news and stories we did catch today are below for May 4. SALT is tomorrow and a Mexican/tequila/drinking holiday, so no promises we’ll be back on track anytime soon. Hit us with leads at @activiststocks, daily newsletter sign up, ICYMI the latest newsletter is here.
- Starboard Value has gone active on Brinks Co. with an 8%+ stake. More on that to come via Activist Strategy.
- Campus Crest settled with the Clinton Group, adding 2 directors.
- Macerich settled with Orange Capital and L&B, adding 2 directors. Again, we'll add more color to Campus Crest and Macerich tomorrow, so follow the site and I’ll try to link to it in the daily email.
- Activist Knight Vinke has noted that UBS should merge its IB arm with Credit Suisse.
- @adwildcat at WSJ gives you all the tools you need to be your own activist investor. Most of you guys are working at funds or running funds, so you might not find value here, but at least a good laugh. @ericjackson gets a lot of love in the piece - about how a kid from Naples took on Yahoo as an activist [link]
- @Carl_C_Icahn was on @WallStreetWeek on Sunday talking his book - seems like AAPL is the only thing in his book these days. There were some personal stories, which added a personal touch. Based on Icahn’s childhood tragedies and Barry Rosenstein’s tales from last week’s WSW show, the lesson from WSW so far seems to be that if you’re from anything more than a middle-class household you won’t make it too far in terms of building a boss fund. You simply can’t; you don’t have the hunger; you don’t have drive. Luckily most of us have our trust funds [link to Icahn show]