(Harvard Business Review) Activist hedge funds have become capital market and financial media darlings. The Economist famously called them “capitalism’s unlikely heroes” in a cover story, and the FT published an article saying we “should welcome” them…..But they are utterly reviled by CEOs. And at best, their performance is ambiguous.
Activist Hedge Funds Aren’t Good for Companies or Investors, So Why Do They Exist?
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