market folly

Tom Brown's hedge fund firm Second Curve Capital just filed a Form 4 with the SEC on shares of Tennessee Commerce Bancorp (TNCC). Per a transaction on December 17th, advisory clients of Second Curve purchased 10,000 shares of TNCC at a price of $4.10. After this transaction, Second Curve reported beneficially owning 1,242,456 shares of the company. We originally covered it when Second Curve started a new position in TNCC back in August.

Per Google Finance, Tennessee Commerce Bancorp is "a bank holding company formed to own the shares of Tennessee Commerce Bank (the Bank). The Bank conducts business from a single location in the Cool Springs commercial area of Franklin. As of December 31, 2009, the Bank had total assets of $1.4 billion. The Bank offers a range of retail and commercial banking services."

For other recent activity out of this hedge fund, we saw that Tom Brown almost tripled his stake in Banner Corp (BANR).