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?).