RE: Gyllenhammer...14 Jun 2015 18:04
His strategy is
'Pick up bombed-out shares trading at a large discount to net asset value. If they are badly managed or not managed in the best interests of all shareholders, then implement change. This typically takes you into operationally risky situations and some of the investments go bad, but the risk/reward in aggregate is attractive.
'
Certainly fits Crap Oil , but maybe he underestimated how bad...