IJR

Quitting the Hedge Fund Game - Mark Sellers

Seller's fund owned 2.8 million shares of Contango Oil and Gas as of 9/18/08. In the summer, when this stock traded in the 90's this is $250 million of his reported $300 million hedge fund (as of 6/30 as he describes it in the WSJ comment section), roughly 83% of the fund. It appears that he was buying stock all the way up to its peak. What kind of investment philosophy does this represent? To use this fund as representative of standard hf practice is (I hope) not appropriate.
biz.yahoo.com/t/26/757...