market folly

Tom Brown's hedge fund firm Second Curve Capital recently filed a Form 4 with the SEC in regards to shares of Primus Guaranty (PRS). In the filing, we see that advisory clients of Second Curve sold 26,300 shares of PRS at a price of $4.42. The transaction took place on April 14th, 2010 and Second Curve now is left with 5,790,266 shares. As you can see, this is only a drop in the proverbial bucket of their total stake. In terms of other portfolio activity out of hedge fund Second Curve, we recently saw they filed a Form 4 on shares of Taylor Capital Group (TAYC) as well.

For those of you who want to see more position adjustments from Tom Brown's firm, we posted some of their position updates and in the past have detailed Second Curve's portfolio here.

Taken from Google Finance, Primus Guaranty is "a holding company, which conducts business through two operating subsidiaries, Primus Asset Management, Inc. and Primus Financial Products, LLC. Primus Asset Management is an investment manager to affiliated companies and third-party entities. Primus Financial Products, LLC is a credit derivative product company (CDPC)."