White Hedge Fund Managers Can’t Spell

My friends at activist fund Relational Investors here in San Diego are taking on a very big fish indeed: Bob Nardelli of Home Depot. They have announced a significant position in the firm’s stock, and are agitating for overdue changes in strategy, governance, operations, and so on.

The Relational people — with Ralph Whitworth as principal — are very smart folks, having delivered great returns on this strategy in a number of cases, including National Semiconductor a few years back. Further, Home Depot can use the kick in the behind, with Nardelli & Co. having become complacent in recent years, so shareholders can look forward to some real pressure for positive change.

That is why I’m perfectly willing to forgive a slip-up here and there in their spelling prowess, like in the following clip from Whitworth’s letter to Home Depot’s Nardelli last week:


  1. Motts McGregor says:

    Hopefully not a Freudian slip on the prospects for success here….

  2. im a money guy, not a spelling guy.

  3. PunctuationPolice says:

    Yes, Mat(t)hew, we can all see. You are not even a punctuation guy. (It should be “I’m” not “Im”)