Thursday, August 21, 2008

The Beatings Will Continue

Until Morale Improves

$2 Billion hedge fund Andor Capital announced yesterday that it will shut down and return money to investors, according to Marketwatch and others.

The fund is down this year, but not by so much that it has to shut down according to the word on the street. Rather, the environment is just no fun. Andor is run by tech investment legend Dan Benton, former Goldman Sachs tech analyst who wrote the legendary one-pager titled "Rules for Technology Investing" or something along those lines.

I have a copy of it somewhere but it contains brilliantly simple concepts such as, "Sell stocks when earnings estimates are going down."

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