Recognizing the prudence of diversifying my personal hedge fund exposure after a wonderful decade investing with Tiger Management, I incorporated Lookout Mountain Capital, Inc. in 1993 to invite family and friends to invest along with me in a wider pool of managers.
Yet in 1993, there were no hedge fund databases or newsletters, and media coverage was sparse. So, finding new and good hedge funds was a daunting task – especially from Chattanooga, TN.
The Lookout Mountain Hedge Fund Review was conceived as the most effective way to have hedge funds find my young firm, rather than visa-versa. It worked exceedingly well, as managers regularly introduced themselves and provided us with remarkable access to their operations.
Publishing the newsletter also allowed us to learn directly from many of Alfred Jones’s portfolio managers and to interview numerous other managers from the formative years of the industry. Probing hedge fund failures proved as edifying as the successes.
While I have penned most of the lead articles, essential editorial feedback from a handful of friends and associates has always had a significant bearing on the published articles. Most notably, each article from the 1990’s bears the imprint of Tom Kirkpatrick and Elaine Byers.
My goal in publishing again, as it was two decades ago, is to attract good managers – but only significant producers of superior risk adjusted performance [SRAP]. Hopefully the results will be commensurate with those in the 1990’s.