Remarks
Activists Return to Big Attacks With $400 Billion Chase List
Agitators such as Nelson Peltz and Elliott Management are going after noteworthy names now that stock prices are down.
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At the start of January, Nelson Peltz returned from doing whatever billionaires do over the holidays and told Walt Disney Co. it stunk. That’s not verbatim. But when someone says you have “prominent cracks in the flywheel,” what else can it mean?
Activist hedge funds make their money by seeking out just such cracks. Their playbook, of which Peltz is a famed exponent, says that companies (read: share prices) can be improved (read: share prices can go higher.)