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OneBank has an activist hedge fund. Phillip oversees it. Envoy Assets.”“What’s an activist fund?”“They take stakes in publicly traded companies. Buy influence through stock ownership. Then, for better or worse, they push to improve the stock prices.”There was a hint of a sneer in her voice. I said, “What’s wrong with improving stock prices?”“Nothing. Or not much if you take the long-term approach like Envoy does. But too many funds force companies to sell well-performing divisions, lay off employees for short-term gains. That can drive the stock up, then the fund dumps it.”“Oh. But Phillip is a good guy?”?“Mostly. Envoy gives companies strategic direction over the years. Pumps resources into them. Sometimes they supply key executives to run a division. Or the entire company.”Gertie contrasted Envoy’s approach with that of the funds who bought shares in Valeant. A pharmaceutical company I had a vague recollection of.Gertie said, “Those cunts at Valeant borrowed money to buy. Bjorn kissed the top of Jessie’s head and said, “OK, I guess. But that’s the one we have to keep an eye on over their. She’s been a bit of a dark horse up until now but I think tonight she has really got the judges’ and the audience’s attention.Jessie pulled her face away from Bjorn’s solid chest and looked over to the other side of the back stage area where they and others were milling around in. What she saw was a young girl she hadn’t really noticed before even though the girl had been a part of the whole pageant from the very first week. The girl was indeed very pretty with long shiny black hair flowing down over her shoulders along with a very tight one piece bathing suit and a pair of high heels shoes at the end of her long curvy legs.“How come I haven’t noticed her before?” asked Jessie in a bit of a forced whisper.“I don’t really know” whispered back Bjorn even though they both could have talked as loudly as they liked and no one would have heard them above the general.
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