Date updated:11-15-2007
Tontine is a multi-billion dollar Greenwich based Hedge Fund managed by 45 year old Jeffrey Gendell. The fund was started by Gendell in 1997 and has since posted spectacular returns, gaining more then 100% in both 2003 and 2005. Gendell’s specialty is picking a macro-styled theme, buying very large positions in companies that benefit from that theme, and then working with or pressuring management to improve shareholder returns. Famous examples including buying homebuilders in 2003 and various major steel companies in 2005.
Gendell is a graduate of Duke University and began his Wall Street career at Smith Barney, working in the corporate finance department. His fund is named after 17th century Italian banker Lorenzo de Tonti, who invented an annuity where several partners invest and receive annual dividends. As each investor dies off their share is credited to the remaining partners, leaving the last man alive with all the money. The name is a play on Gendell’s desire to be the “last investor standing.”

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WNC
Wabash Natl Cp - $1.71
- -3.39%
- $1.71
No Analysis added

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WGII
Wgii - $0.00
- N/A
- $N/A
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TRN
Trinity Ind - $18.76
- -2.60%
- $18.51
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KBH
Kb Home - $13.62
- -1.80%
- $13.48
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CTX
Ctx - $0.00
- N/A
- $N/A
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SGR
Sgr - $0.00
- N/A
- $N/A
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NAV
Navistar Intl Cp - $32.18
- -1.47%
- $31.69
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RYL
Ryland Group Inc - $18.04
- -2.17%
- $17.93
No Analysis added
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