market folly

In a 13G filing with the SEC, hedge fund Shumway Capital Partners has disclosed a 5.39% stake in Equinix (EQIX) with aggregate amount beneficially owned of 2,037,527 due to activity on February 26th, 2009. This is a newer position for them, as they've previously did not own it as of their November portfolio update disclosed in a SEC 13F filing.

Shumway Capital Partners is run by Chris Shumway. Shumway started his own fund after leaving well-known Julian Robertson's Tiger Management. And thus, as a progeny of Robertson, he is a part of what people call the 'Tiger Cubs' (people who have started their own firms after succeeding at Tiger). We've already covered many of the 'Tiger Cub' funds including Stephen Mandel's Lone Pine Capital, Lee Ainslie's Maverick Capital, John Griffin's Blue Ridge Capital, and Andreas Halvorsen's Viking Global. Taken from our post on 'Tiger Cub' biographies, "Chris Shumway is the Founding Partner of Shumway Capital Partners (“SCP”), an investment management firm founded in 2001. SCP, which manages a multibillion dollar group of private investment funds, uses a private equity-like research model for public market investment on a global basis. Prior to forming SCP, Mr. Shumway was a Senior Managing Director at Tiger Management (1992-1999), an Analyst at Brentwood Associates (1990-1991), and an Analyst at Morgan Stanley & Co. (1988-1990). He received an M.B.A. from Harvard Business School (1993) and a B.S. from the McIntire School of Commerce at the University of Virginia (1988)." Lastly, at a 'Tiger Cub' hedge fund manager panel, Shumway suggested that buying stocks that were down largely due to hedge fund liquidations would be a winning strategy longer-term.

Taken from Google Finance,

Equinix "provides network-neutral colocation, interconnection and managed information technology (IT) infrastructure services to enterprises, content providers and financial companies."