Will Salida fall prey to its name?
According to the Streetwise blog, Canadian hedge fund Salida Capital just lost recently-hired Co-President David Fleck (see prior post “Smart guys leaving the Street” January 23-08), and is down “double digits” for the month of September.
The history of the firm’s name is a well kept secret. But, if you asked one of the traders after a few beers what it stood for, they’d remind you of founder Jeff Banfield’s hasty departure from the stock-trading industry a half-decade ago and say “Exit”, with a twinkle.
According to one online dictionary, that isn’t very far off the truth:
a la salida
= on the way out