December 23, 2005
Attack of the Hedge Funds
Posted by Bill Sjostrom
Click here for a short 12/21/05 memo from Wachtell, Lipton, Rosen & Katz titled “Be Prepared for Attacks by Hedge Funds.” This is my favorite piece of advice from the memo:
Companies need to: . . . Not allow attackers to achieve the moral high ground by wrapping themselves in the cloak of good governance. Expose the attackers for what they are, self-seeking, short term speculators looking for a quick profit at the expense of the company and its long term value.
I assume the firm does not have any hedge fund clients or at least none that are self-seeking, short term speculators (is there such a hedge fund?).
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