market folly

In a 13G filing made with the SEC on Wednesday October 8th, hedge fund Jana Partners disclosed that they have a 5.7% stake in Hayes Lemmerz (HAYZ). They now own 5,793,070 shares of HAYZ. This is an increase from their 4,509,248 shares disclosed in the previous filing which had disclosed positions as of June 30, 2008. Managed by Barry Rosenstein, Jana was founded in 2001 and typically employs activist, market neutral, and long/short equity strategies in public equity markets. Rosenstein received his BS from Lehigh University and his MBA from the Wharton School of Business at the University of Pennsylvania. Alpha magazine ranks Jana #79 in their hedge fund rankings. Jana Partners was -9% for the month of September, and find themselves -14.7% for the year, as I noted in my hedge fund performance update.

Taken from Google Finance, Hayes Lammerz is "a producer of aluminum and steel wheels for passenger cars and light trucks and of steel wheels for commercial trucks and trailers. It also supplies automotive powertrain components."