market folly

Lee Hobson's hedge fund firm Highside Capital just filed a 13G with the SEC regarding shares of MIPS Technologies (MIPS). Due to portfolio activity on January 26th, 2011, Highside has disclosed a 6.2% ownership stake in MIPS with 3,100,000 shares. This is a brand new position as the hedge fund did not own shares as of their last portfolio disclosure.

Hobson graduated from Princeton University and earned his MBA at Harvard Business School. He founded his Dallas, TX based hedge fund after working for Lee Ainslie's Maverick Capital. Highside employs a long/short equity strategy and invests in public markets.

Per Google Finance, MIPS Technologies is "a provider of processor architectures and cores that power some of the home entertainment, communications, networking and portable multimedia products. The Company’s technology is used in markets, such as mobile consumer electronics, digital entertainment, wired and wireless communications and networking, office automation, security, microcontrollers, and automotive. MIPS customers are global semiconductor companies and system original equipment manufacturers (system OEMs)."

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