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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (79593)	4/15/2000 12:42:00 PM
From: Thomas M.	Read Replies (1) \| Respond to of 132070

Abelson denies Samberg-gone-bust rumors: <<< One of these concerned our old friend, Roundtable stalwart and super money manager Art Samberg. Under the Pequot Capital Management rubric, Art and a few other smart cookies run a group of hedge funds, virtually all of which have a heavy tech flavor. Art's long-term record is one of the wonders of the modern world, and he has always been, in the years we've known him, the epitome of cool. Not invariably right, for sure, but never afraid to change his mind when he's wrong. Last week, rumors were rife that Art was in deep trouble, that he was about to be carried out. A ninny at a financial news service gave currency to the tale, embellished with some gibberish about concerned big investors in the fund (at least one of whom hasn't invested a sou; but hey, never let the facts get in the way of a story). Hear ye, hear ye: The truth is -- and let the world know -- Art and Pequot are alive and well. Art's funds are not in trouble. Let us repeat that for the hard-of-reading, Art's funds are not in trouble. Even after some rude hits last week, most are up for the year, and none is off more than 3%. If that's trouble, we know an awful lot of money managers who will take as much of it as you can spare. What's more, Art's funds do not seem in any imminent danger of getting into trouble. Contrary to the pernicious piffle being bruited about, he is not an abuser of leverage; as a matter of fact, he's not even an extravagant user. Nor are his funds extraordinarily exposed to the market. With the exception of one long-term unit, the funds' net investment runs 50% or less. >>>