The Bloomberg View article By Robert M. HogueBloomberg Businessweek(Bloomberg: B2B)Published: August 15, 2020 10:59:15It’s not every day that a Wall Street investment guru comes knocking.
It’s no surprise that Michael Fincke, who founded Finckes Capital Advisors in 2014 and is a co-founder of Hedge Funds International, is in the business of buying and selling stocks.
In his book, “The Hedge Fund King,” Fincks bookseller says that when you have a lot of money to invest, you might want to invest it in stocks that have a lower risk of being taken over.
Fincke said he had heard about an opportunity to buy the stock of a small firm that is in a financial crisis and had asked his clients if they were interested.
He was offered $50 million to buy out the firm’s stock, he said.
He said he was skeptical.
“I’ve had a lot on my mind lately,” he said in an interview.
“But it’s not that I’m going to get a kick out of it.
I’m just going to buy and sell.”
The stock fell to $4.25, and Finckel’s investors lost nearly $2 million.
He said he has no plans to sell the stock, but said that he has been working on a strategy for the past year.
Faccke said in the book that he is the “King of Hedge Fund Investing” because he has amassed a portfolio of about $1.3 trillion that includes a $1 billion investment in Coca-Cola.
He has a large stake in Facebook, which he is a major investor in.
Fancke, 56, is known for being very disciplined.
In his book “The King of Hedge Investing,” he describes himself as the “first to be willing to make a $30 million investment without having to sell.”
He said that “the more I know about investing, the more I believe in the power of the stock market.”
Finckes hedge fund invests in hedge funds, mutual funds, technology companies, real estate and other companies, according to its website.
In 2016, Finckes fund had more than $1 trillion in assets under management, according a profile on Bloomberg.
He also runs hedge funds in Europe and Asia, including one in the Philippines.
In 2017, he was named chairman of the Global Fund Advisors group.
He is a frequent contributor to Forbes magazine.
Fiscal year 2016 was the first time Fincckes has lost money since 2012, when he was in his mid-30s, according in his biography.
He wrote in the biography that the first year was a “dramatic roller coaster” that saw the market soar and his fund lose $2.2 billion, and then he made a big loss of $2 billion in 2021.
“The roller coaster was over,” he wrote.
The next year, Faccke wrote, his fund lost about $10 billion.
In 2022, it lost another $2 to $3 billion.
The fund was down by more than 20% in 2020, when it went from about $400 million to about $200 million, according his biography on Forbes.
Funcke, a native of West Virginia, is married with three children.
He grew up in nearby Boone, Ky., where he attended the University of Cincinnati before working in the insurance industry for several years.